Whale Alert is a massive crypto community that provides crypto transaction data in real-time. The community does this through tweets so that crypto investors, traders, and enthusiasts can gain insights into the industry.
According to the service, in the last hour, a staggering 69,058 BTC had been moved between unregistered wallets. A few hours before this, Coinbase reported having received 24,000 BTC from anonymous-labeled wallets. In total, it looks like $3.7 worth of Bitcoin tokens are on the move.
The Whale Alert team detected seven transactions, each of which bore close to 9,700 and 9,900 Bitcoin tokens. That equals a total of 69,052 Bitcoin that holds a value of $2,745,014,065.
Before this, this blockchain tracker detected two transactions that were carried out consecutively. Each one held 12,000 BTC, making it 24,000 BTC in total. These 24,000 BTC are worth over $900 million. The previous two transfers were carried out about seven to eight hours ago. They were transferred between internal Coinbase wallets. Adding this to the count, the overall worth of mysteriously transferred Bitcoin is $3,698,999,665.
Earlier, U.Today reported that over the last six weeks, a massive amount of Bitcoin has been purchased. It mentioned crypto holders with wallets that hold large amounts of Bitcoin (think, from 100 to 10,000 BTC), called whales. According to data by the analytics company, CryptoQuant, whales have purchased 170,000 BTC.
Data estimates show that Bitcoin whales bought 130,000 of the tokens on the dip in the last five weeks. During the last 10 days, they bought another 40,000 BTC to add to their crypto wallets.
This is quite impressive, considering that Bitcoin has a whopping market share of 49.15 percent. This is the highest level ever since May. But even so, it’s nowhere close to its early January peak of 73.68 percent. So far, the leading cryptocurrency has been recovering from the crackdown on crypto mining and trading in China. The effects of the superpower closing down crypto exchanges had a detrimental effect on investor attitudes, which caused prices to dip significantly.
After Amazon dispelled rumors of accepting crypto payments, Bitcoin inched closer to the $40,000 mark yet again today. So far, it’s been on a rallying spree as it moves towards recovery and outperforms other top altcoins.
Since the beginning, the flagship cryptocurrency has had owned a giant chunk of the market share. But in April, for the first time in three years, Bitcoin’s dominance over the market fell below 50 percent. Its rally came to a screeching halt as investors looked to other digital currencies.
In a month’s time from the mid of April to the mid of May, Ether saw a stunning increase in value. The second-largest cryptocurrency saw an increase of over 100 percent. This showed a revival of the flippening effect.