Bitcoins Worth Roughly $1Billion Moved to Anonymous Wallet
A transaction, which included the transfer of over 15,078 Bitcoin tokens, was discovered to have occurred between two anonymous wallets. The total amount of Bitcoin that this whale account moved from one account to another is a stunning $993,191,088 dollars.
Concerns have been raised about the potential for such whale wallets, which contain massive amounts of cryptocurrency tokens, to have a single-handed influence on the market activity. Concerns have been expressed about the possibility of Bitcoin prices dropping.
On November 15, 2021, this order was transmitted to the Bitcoin network for the first time. When this transaction was completed, a total of 15,078.20768150 BTC (Bitcoin tokens) was transferred, with a value of $991,820,563.67 BTC. This transaction is now worth $912,564,189.99 dollars, according to Blockchain.com’s latest update.
Due to the fact that the funds have not been transferred to an exchange platform, it seems that the whale wallet holder has no plans to sell the assets at this time. According to a report from Benzinga, this might just be a security measure by the whale wallet.
The study went on to say that it takes around $15 million to $30 million in sell pressure to shift the price of Bitcoin down two percent on any given exchange, according to the research. For the time being, there is no information available on the owners of these wallets.
There are 522,952 Bitcoin wallets that contain assets worth more than $100,000 and have the ability to affect the market, according to an analysis by Glassnode. According to estimates, 19,000 bitcoin tokens were transferred between two unknown wallets earlier this year, in May of this year. The acquisition was valued at 1.1 billion dollars at the time. Bitcoin is not only the world’s oldest cryptocurrency, but it is also the most valuable in terms of market capitalization.
According to the Gadgets 360 cryptocurrency price tracker, the cryptocurrency coin is now selling at $68.096 per token. It is estimated that approximately 18.8 million Bitcoin tokens are presently available, accounting for more than 90 percent of the 21 million tokens that were pre-determined to be issued by Bitcoin’s mystery inventor, Satoshi Nakamoto, prior to the cryptocurrency’s launch.
A recent report by research firm Glassnode revealed that only 12.9 percent (or a little more than a quarter of the total supply of Bitcoins) has been trading on various cryptocurrency exchanges since August of this year, indicating that holders are content with holding onto their assets rather than trying to sell them on exchange platforms.