Over half a billion USD in BTC has been shoveled between Coinbase exchange and several anonymous wallets
Popular crypto tracker whale alert spread the word about more than half a billion USD worth of Bitcoin transferred cumulatively between leading US-based digital exchange Coinbase and several anonymous crypto addresses.
Besides, two dormant Bitcoin wallets have been activated after 12.4 years with 100 BTC in them.
Whales withdraw $422.8 million and deposit $246.6 million in BTC
The aforementioned tracking service reported that in the past 16 hours, anonymous whales made multiple transactions depositing around $246 million worth of Bitcoin on the Coinbase exchange and withdrawing around $422 million to addresses marked with Whale Alert as “unknown”.
Anonymous whales have deposited a comprised 5,678 BTC to Coinbase and withdrawn 9,736 BTC from it. That is worth $246,629,608 and $422,892,896, respectively, at the time of writing.
Separately, 4,100 Bitcoins worth $178,865,674 were also transferred from a Gemini address to Coinbase, which were then withdrawn from there to an unknown address.
At the time of this writing, the global flagship digital currency is changing hands at $43,397, having lost roughly 5% in the past 24 hours.
The price faced a decline after the Fed discussion that did not rule out another interest rate hike – by 50 basis points. With Bitcoin losing 5% of its value, the Nasdaq also plunged 4.5%.
Bitcoin exchange balance falls to 2018 lows
According to a Glassnode chart, the current Bitcoin supplies across multiple digital exchanges have reached the bottom of 2018, in the middle of “Crypto Winter,” when BTC was trading at around $7,200.
As the price of BTC has fallen, some are locking in their profits by moving BTC to exchanges, while “diamond” hands are buying more and moving their crypto to cold rooms.
Dormant Bitcoin wallets awaken after 12.4 years
Whale Alert has also reported that two dormant crypto wallets had came to life after 12.4 years, since 2009 basically, when the mysterious BTC author Satoshi Nakamoto was still more or less in public view.
These two wallets each contained 50 BTC, or approximately $2,165,186 per wallet at the current exchange rate.
One of the possible explanations here is that the owners of these wallets had managed to recover the passwords or seed phrases to wallets they believed had been lost.
