A supposed Bitcoin whale has moved a large amount of Bitcoin in about seven different transactions, within an hour. Although the huge transfers are likely to be a change of transactions. However, this is all coming at a time when the price of the cryptocurrency is changing hands around the $9,300 mark.
Bitcoin whale involved in seven BTC transfer
Whale Alert, a digital currency transaction monitor, spotted the Bitcoin whale transfers, which happened a few hours ago. In sequence, the Bitcoin whale moved a total of 241,175 Bitcoin in seven transfers. The lowest amount of the crypto moved was around 27,000 BTC, while 39,000 BTC was the biggest move.
All the transactions were completed within one hour, and constituted a jaw-dropping amount of $2,241,622,743, at the transaction time. Interestingly, it cost the Bitcoin whale a fee less than one dollar, to complete each of the transfers, which perhaps runs in millions of dollars.
However, these large transactions have been flagged as a change, as Whale Alert further tweeted that:
This and other recent large #BTC transactions are likely the change of the transactions.
Bitcoin market update
Meanwhile, the transactions are coming at the time when the top cryptocurrency probably seems stuck in the trading range between $9,300 mark. However, Industry participants are optimistic that the cryptocurrency will gradually shoot up in price to $11,000 mark, as it continues to maintain the current price.
According to the data from Coinmarketcap, the largest cryptocurrency is trading at $9,390.96, with a -0.56 percent price change.
Bitcoin’s market capitalization is currently sitting at $172,875,841,386, and its 24h volume is at $19,775,723,725. Out of the 21 million max supply, there are now 18,408,750 Bitcoins in circulation at the time of writing.