Third largest bitcoin whale moves 132881 Bitcoins
7/22/2022, 06:07 AM
The third largest Bitcoin wallet has moved its funds to Coinbase. In the last three days, the wallet has moved 132,881.88 Bitcoin to Coinbase. The remaining 29,235.28 Bitcoin of the wallet was transferred to Coinbase on Thursday.
In the last days, Bitcoin has also reached a price level of 24,000 dollars again.
This is the first uptrend in a month and the first increase of Bitcoin above 24,000 $ since mid-June. Despite the fact that this is a potential indicator of a large-scale dump, Ki Young Ju, a leader at CryptoQuant, said in a tweet that this transfer is not a transfer of a private user into the hot wallets of Coinbase in order to sell Bitcoin.
The third largest Bitcoin wallet is now empty. Today, on July 21st, the last 29,000 Bitcoin, worth around 666 million US dollars, were transferred from the address to Coinbase. Just last November, when the Bitcoin price was at $69,000, the wallet held over seven billion US dollars in Bitcoin.
In the past few months, the Bitcoin balance in the wallet has been steadily increasing. Since last Wednesday, when the price of Bitcoin reached an all-time high of $133,000, all of the Bitcoin in the wallet has been sold.
The active wallet and sudden sell-off has people talking. Ki Young Yu of CryptoQuant dismisses the suspicion of CryptoWhale, that this might be a large dump, as "FUD". According to Yu, this is simply an internal transfer to a cold or custodial wallet belonging to the Gemini cryptocurrency exchange.
"This is just an internal transfer to '1LQoW...' which is likely a cold wallet or custodian wallet belonging to Gemini," said Yu. The CryptoQuant CEO also ruled out the possibility that a user deposited their BTC into a hot wallet belonging to a cryptocurrency exchange in order to sell it.
In the last days, Bitcoin has also reached a price level of 24,000 dollars again.
This is the first uptrend in a month and the first increase of Bitcoin above 24,000 $ since mid-June. Despite the fact that this is a potential indicator of a large-scale dump, Ki Young Ju, a leader at CryptoQuant, said in a tweet that this transfer is not a transfer of a private user into the hot wallets of Coinbase in order to sell Bitcoin.
The third largest Bitcoin wallet is now empty. Today, on July 21st, the last 29,000 Bitcoin, worth around 666 million US dollars, were transferred from the address to Coinbase. Just last November, when the Bitcoin price was at $69,000, the wallet held over seven billion US dollars in Bitcoin.
In the past few months, the Bitcoin balance in the wallet has been steadily increasing. Since last Wednesday, when the price of Bitcoin reached an all-time high of $133,000, all of the Bitcoin in the wallet has been sold.
The active wallet and sudden sell-off has people talking. Ki Young Yu of CryptoQuant dismisses the suspicion of CryptoWhale, that this might be a large dump, as "FUD". According to Yu, this is simply an internal transfer to a cold or custodial wallet belonging to the Gemini cryptocurrency exchange.
"This is just an internal transfer to '1LQoW...' which is likely a cold wallet or custodian wallet belonging to Gemini," said Yu. The CryptoQuant CEO also ruled out the possibility that a user deposited their BTC into a hot wallet belonging to a cryptocurrency exchange in order to sell it.