Crypto whales are moving heaps of Bitcoin (BTC) and Ethereum (ETH) as crypto market volatility picks up.
The on-chain crypto tracking system Whale Alert is flagging a handful of remarkably large transactions.
One mystery whale sent 36,000 ETH, worth about $100 million, to an unknown wallet address on Thursday in its second million-dollar ETH transaction over the past 24 hours.
A separate Ethereum whale passed along 23,800 ETH, worth $64 million, to an unknown crypto wallet in the same 24-hour period, according to Whale Alert.
The single biggest ETH transaction of the day involved one whale sending 41,465 ETH, worth over $113 million, from one unknown wallet to another, according to Whale Alert.
Bitcoin whales are busy too. One large BTC holder sent 11,203 BTC, worth more than $428 million, in a single transaction, according to Whale Alert. The sending wallet has only two transactions to its name, in which it received the massive BTC sum before sending it off to 65 other wallets one day later.
According to Whale Alert, none of the aforementioned wallets are sending assets to cryptocurrency exchanges, where the coins could potentially be sold on the open market.
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Featured Image: Shutterstock/Samantha Haebich
Source: https://dailyhodl.com/2021/08/06/whales-move-705000000-in-bitcoin-and-ethereum-as-market-bounces-heres-where-the-crypto-is-going/
