Crypto Whales Transfer Over $531 Million in Bitcoin and Dogecoin Amid Market Break
In a recent development, the cryptocurrency market has witnessed massive transfers of Bitcoin (BTC) and Dogecoin (DOGE) as whales make significant moves. Whale Alert, a blockchain-tracking bot, has detected these substantial transactions, amounting to a staggering $531.71 million. Let’s delve deeper into the details of these intriguing crypto transfers.
Bitcoin Whales Making Waves:
Among the eye-catching Bitcoin transactions, one standout transfer saw a crypto whale relocating a whopping 14,159 BTC, valued at approximately $421.71 million, from an undisclosed wallet to another unknown wallet. Remarkably, this sizeable transaction incurred a mere $3 transaction fee, showcasing the efficiency of the Bitcoin network.
Another notable BTC transfer involved a Bitcoin whale moving 1,890 BTC, worth $56.54 million, from an unidentified wallet to the renowned US-based crypto exchange, Coinbase. This move hints at a potential intention to sell these coins on the open market, raising questions about the market sentiment.
As of the time of writing, Bitcoin’s trading price stands at $29,815, experiencing a slight fractional decrease on the daily timeframe, likely influencing these whale movements.
Dogecoin Whales in Action:
Large Dogecoin holders have also been active, with significant DOGE transfers taking place in the past 24 hours. One whale entity moved an impressive 450,000,000 DOGE, valued at $32.93 million, from an undisclosed wallet to the retail-focused trading platform, Robinhood. This transfer indicates a potential interest in DOGE’s accessibility to a broader user base.
Conversely, an unknown crypto wallet acquired 117,717,363 DOGE, worth $8.58 million, from Robinhood, raising speculation about the motives behind this acquisition.
In a separate Dogecoin transaction, a wealthy investor shifted 85,000,000 DOGE, valued at $6.17 million, from an unknown wallet to the popular crypto exchange, Binance. This move highlights the dynamic nature of the cryptocurrency market and the various platforms whales utilize for their transactions.
The last significant Dogecoin movement witnessed in the last 24 hours involved a crypto whale transferring 78,962,318 DOGE from Robinhood to an undisclosed wallet. These developments come at a time when DOGE’s price is at $0.70, experiencing a decline of over 4% in the past day.
Read Also: Is Crypto Dead? Debunking the Myth and Unraveling the Future of Cryptocurrencies
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.
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