Bitcoin
Major Bitcoin Whale Makes Huge Transfer to Coinbase
Alex Dovbnya
A large whale recently transferred $61.55 million worth of Bitcoin to Coinbase after six years of dormancy
Read U.TODAY at
google news
According to cryptocurrency analysis platform Lookonchaina long-dormant wallet came back to life after six years to deposit 1,000 BTC ($61.55 million) into Coinbase Prime just a few hours ago.
The latest transfer comes after a few other notable Bitcoin transactions that took place earlier this week. As reported by U.TodayThe US government recently sent around $241 million worth of Bitcoin to Coinbase on June 26. Despite some concerns from the community, the transfer did not trigger any significant price movement.
On July 27th, extremely rare The transfer took place, with $3 million worth of Bitcoins mined in 2010 being transferred to the Binance exchange. These coins came from the CPI mining era, when it was possible to mine the original cryptocurrency with your personal computer without using any specialized hardware.
Bitcoin remains in crisis
The price of the largest cryptocurrency is currently changing hands at $61,522, after peaking at $62,314, according to CoinGecko. data. The leading cryptocurrency fell nearly 5% last week.
As reported by U.Todayflows into large Bitcoin wallets have gained momentum following a recent price crash.
After seeing a brief relief rally following its drop below the $59,000 level, the leading cryptocurrency is struggling to regain bullish momentum without a single major bullish catalyst in sight.
That said, it is worth mentioning that Bitcoin exchange-traded funds have not returned to inflows, which should offer some much-needed respite to the bulls.
About the author
Alex Dovbnya
Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader, and journalist with extensive experience covering everything related to the burgeoning industry – from price analysis to blockchain disruption. Alex has authored over 1,000 stories for U.Today, CryptoComes, and other fintech media outlets. He is particularly interested in regulatory trends around the world that are shaping the future of digital assets. He can be reached at alex.dovbnya@u.today.