Home https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Business https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Whale signal – crypto user moves $ 1.1 billion to bitcoin

Whale signal – crypto user moves $ 1.1 billion to bitcoin

As the price of bitcoin continues to linger at nearly $ 13,000, one user decided it was time to move more than $ 1 billion from the digital asset.

According to the chain, the Bitcoin trader (BTC) moved more than 88,857 BTC – worth approximately $ 1.15 billion – for a fee of just 0.00027847 BTC, or $ 3.58 at the time of publication. The coins were confirmed in block 654 364 on October 26.

Data from the CrystalBlockchain analysis platform appears to indicate that the user sent the coins from an address designated as the Xapo Bitcoin wallet. Since Coinbase Custody acquired Xapo’s institutional business in 2019, it is possible that $ 1.1 billion in bitcoins will come from a US-based exchange.

This transaction is the largest movement of any cryptocurrency in Fiat value, with the Bitfinex exchange setting the previous record in April. He transferred 1

61,500 BTC – $ 1.1 billion at the time – for a fee of just $ 0.68.

None of these transactions were actually the largest amount of bitcoin ever moved. This honor goes to 550,000 BTC transactions made on November 16, 2011 by Mt. Gox exchange. At that time, worth $ 1.32 million, that amount of bitcoin could be liquidated for more than $ 7 billion today.

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