Connect with us

Hi, what are you looking for?



Mass Bitcoin Whale Migration Uncovered As $6,900,000,000 in BTC Sent to Smaller Wallets

Bitcoin whales are channeling billions of dollars worth of crypto holdings into smaller wallets, according to researchers at Flipside Crypto.

A new report finds BTC whales holding 1,000 BTC or more have sent a total of 423,914 worth $6.9 billion to smaller wallets holding less than 1,000 BTC.

The move began towards the end of October as the price of BTC began to climb.

The whales do not appear to be sending any of the BTC to crypto exchanges, where it could be traded on the open market.

Although it’s impossible to prove what the whales are up to, Flipside market analyst Rochelle Guillou says they could also be “fanning out” their holdings to attract less attention or preparing for over-the-counter sales.

“In a recent interview with Laura Shin, Willy Woo explained that he saw a massive influx of new investors, CEOs and boards of directors, scooping up Bitcoin to put them in corporate and personal wallets.

Perhaps new institutional investors are looking to purchase BTC directly from the OG’s and sidestep exchanges all together.”

Guillou says some whales may also be shifting BTC to wallets with less than $10,000 in order to sell cryptocurrency on centralized exchanges without violating the travel rule of international banking.

News Source


Trending Post


ChainLink is basically very exciting.  Users have to state that it stirs the imagination and passions of the community in ways that other projects...


Senseering offers an IOTA-based solution to create a marketplace for data that can be shared among partners. Senseering’s solution will be used in collaboration...


Cryptocurrency investment is becoming a common trend. In the fourth quarter of the year, when investments are said to start doing well, how are...


VeChain (VET), BTCMVMNT, and Team Zuby have joined forces to create a limited-edition merchandise collection dubbed “Take the Power Back.” The team says the...

Copyright © ELEVENEWS