Bitcoin’s on-chain activity has increased significantly during the last few days due to massive volatility across the cryptocurrency market. BTC whales have started moving the world’s most valuable cryptocurrency from exchanges and unknown wallets. Whale Alert, a leading blockchain tracking and analytics firm, highlighted the transfer of 9,999 Bitcoin to an unknown wallet yesterday. The anonymous BTC transfer was executed on Monday, 24 May, at 21:41 UTC.
Bitcoin has seen massive volatility in the last ten days.
Bitcoin has seen massive volatility in the last ten days. The cryptocurrency touched a low of approximately $31,000 on Sunday after the latest announcements by China and Tesla. At the time of writing, BTC is trading near $37,000 with a market cap of $700 billion. A similar transaction involving 9,055 BTC was executed on 16 May. Despite the latest dip, BTC whale addresses have increased during the last seven days. “Bitcoin whale addresses (holding more than 1,000 BTC) have steadily been on the rise over the past week, and its price is showing it (+14.5% in 24h).
Whale Alert published a jump in large BTC transfers from leading crypto exchanges.
Whale Alert also published a jump in large bitcoin transfers from leading cryptocurrency exchanges. Nearly 3,500 Bitcoin worth more than $130 million were transferred from crypto exchange Binance to Xapo. A leading BTC whale address moved 1,864 Bitcoin from the crypto exchange Coinbase to an unknown crypto wallet in a separate transaction. Transfer on the US crypto exchange giant was executed on Monday, 24 May, at 22:03 UTC. The total value of the crypto move stands at around $70 million. According to the latest data published by Santiment, approximately 16,000 large Bitcoin addresses are currently holding more than 9 million coins.