Anonymous whales have shifted 18,660 Bitcoins from the largest U.S.-based exchange
Crypto tracker Whale Alert reported that in the past 24 hours, almost 19,000 BTC have been moved from Coinbase to several unnamed digital wallets.
$703 million in Bitcoin moved to cold wallets
The comprised fiat equivalent of these transactions is roughly $703.5 million.
Four transactions were spotted by cryptocurrency tracker Whale Alert carrying large sums of Bitcoin from Coinbase, the largest cryptocurrency exchange in the United States, which went public in April last year.
The two largest ones moved 8,000 BTC and 7,794 BTC, comprising $300,543,330 and $293,180,231. The other two shifted 1,000 and nearly 2,000 Bitcoins.
Two of these transfers, the largest, were made to the same address: 3GoyTuGqJUC6PhLx2PzVXcz86rjsAMBtoS.
This address currently holds 19,244 Bitcoins worth $747,137,075, received within four transactions. By now, it has lost $1,439,486 on the price change, according to BitInfoCharts.
Bitcoin Market Performance
On April 28, the world’s leading digital currency dipped below the $40,000 level, reaching lows of $37,600 on May 1-3. Earlier today, BTC briefly managed to recover and touch $39,000, but now the coin is changing hands at $38,806.
It is likely that the aforementioned heavy crypto transactions carried Bitcoin from Coinbase to cold wallets, while digital gold is trading below the $40,000 zone.
