Whale Moves $875M Bitcoin On-Chain

On Wednesday, blockchain tracker Whale Alert released information on a massive transfer from one unknown wallet to another. The transfer involved 15.,075 Bitcoins worth a staggering $875 million. as the cryptocurrency market goes, this entire transaction incurred just a $1.27 fee. Investors should beware because significant whale activity tends to precede major price fluctuations. Market experts aren’t sure what to make of this most recent move because the wallet transferred to isn’t marked as an exchange wallet. If whales move to exchanges, they’re ready to sell. If not, they’re ready to hold. With this in mind, Satiment, an on-chain analytics platform, notes that Bitcoin whales have been stockpiling their coins. something on the order of 59,000 Bitcoins worth around $3.3 billion. At press time, Bitcoin was trading at around $57,000, down nearly a percent in the last 24 hours.