News
ByAuthor J.D. SmithPosted on
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Whale Abruptly Sends $400,000,000 in Bitcoin to Coinbase in Massive Crypto Transfer

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A massive whale is turning heads after relocating nearly half a billion worth of Bitcoin in a single transaction.

The automated blockchain surveilling tool known as Whale Alert detected the huge BTC transfer.

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The whale involved transferred 8,000 BTC, worth $399.9 million from a wallet of unknown origin to US-based crypto exchange Coinbase for a fee of just $26, according to Blockchain.com.

Prior to the enormous BTC migration, the whale in question was the owner of the 215th richest Bitcoin address in the world.

The BTC was sent to two unidentified wallets, the first of which received less than one BTC and has a total of one transaction. The second wallet with a total of six transactions collected 8,000 BTC.

Over the past 24 hours, other large BTC transfers have been sighted as Bitcoin plummets to a seven-day low of $44,454. All in all, whales moved an additional 42,447 BTC worth $2.02 billion over the same time period.

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Nine transfers involved billions of dollars worth of BTC moving between wallets of unknown origin and two whales shifted BTC from Coinbase to unknown wallets. Here’s the summary of the biggest BTC transactions in the last day:

Whale Alert also reports three transfers of Ethereum (ETH) worth at least $100 million over the past 24 hours, which were all moved between wallets of unknown origin.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/fotofactory

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