An unidentified crypto user transferred $ 101 million worth of Bitcoin from Coinbase to an unknown wallet.
An anonymous crypto user moved 2,292 BTC from the crypto exchange Coinbase to an unknown wallet. It is noteworthy that Bitcoin whales carry the world’s largest cryptocurrency in large quantities. The total value of the transaction is around $ 101.8 million.
Whale Alert, a blockchain tracker and crypto analytics firm, reported today a large Bitcoin transaction involving 2,292 BTC. Crypto whales are transferring Bitcoin from leading crypto exchanges to wallets, causing supply shortages.
The amount of Bitcoin transferred from Binance also draws attention
In addition, the company reported another transaction from the crypto exchange Binance to the digital wallet Xapo a few hours ago, involving the movements of 1,407 Bitcoins worth about $ 63 million.
Finance Magnates previously reported on Bitcoin’s supply crisis, as BTC supply on leading crypto exchanges hit the lowest level since February 2018. BTC whales speeded up withdrawals from digital exchanges.
Increasing institutional demand for Bitcoin has played an important role in recent movements and the supply crisis as major financial firms accumulate large amounts of BTC. Grayscale, the world’s largest crypto asset manager, has purchased 202 BTC worth more than $ 9 million in the past 24 hours, while the company’s managed BTC assets exceeded $ 29 billion. Grayscale has a total of 650,190 Bitcoins under its administration.
Anonymous Crypto Transactions
Unidentified cryptocurrency transactions have been on the rise since the beginning of 2021. Unknown crypto transactions related to Ethereum have accelerated in the past few weeks. Whale Alert reported earlier today a transaction involving the move of 38,714 ETH worth more than $ 67 million to an unknown wallet.
Ethereum’s significant price jump played an important role in recent moves as the price of ETH rose from $ 750 to over $ 1,800 in the first 6 weeks of 2021. Grayscale has accumulated 21,936 ETH in the last 24 hours. The crypto asset manager currently owns 3.07 million Ethereum under management, with a total value of more than $ 5.3 billion. The company has $ 35 billion in digital assets in its management.