Bitcoin, Ethereum whales consolidate positions in cryptocurrency market with multi-million dollar trading
Bitcoin whales – people who own large amounts of cryptocurrency and can drive its prices up – have been busy trading tens of millions of dollars for the past few hours. On August 11th, Bitcoin – the world’s largest and oldest cryptocurrency – opened at approximately Rs. 34.46 lakhs, 0.27 percent more than its previous closing price of approximately Rs. 34.37 lakhs. In the past day or two there has been a significant spike in huge Bitcoin transactions, as reported by the Whale Alert Tracker. The “most advanced blockchain tracker,” as Whale Alert calls itself, has shared countless millions of dollars in transactions on Twitter.
On Aug. 11, Whale Alert tweeted: “1,589 #BTC ($ 72,227,792) transferred from Coinbase to Binance.”
???? ???? ???? ???? ???? ???? ???? 1,589 #BTC (72,227,792 USD) transferred from #Coinbase to #Binancehttps: //t.co/3bAPTMv9PG
– Whale alert (@whale_alert) August 11, 2021
In another tweet, the blockchain tracker said: “750 #BTC ($ 34,374,428) transferred from Unknown Wallet to CryptoCom.
???? ???? ???? 750 #BTC (34,374,428 USD) transferred from an unknown wallet to CryptoComhttps: //t.co/5xBhpwXzpv
– Whale alert (@whale_alert) August 11, 2021
Around the same time, another huge transaction was reported by Whale Alert valued at 4,000 ETH ($ 12,765,115 / approximately Rs. 95 crores), which was transferred to an unknown wallet by OKEx.
???? Transferred 4,000 #ETH (USD 12,765,115) from #OKEx to an unknown wallet https://t.co/q7c4CDKL7X
– Whale alert (@whale_alert) August 11, 2021
At 5:43 p.m. IST today, Whale Alert posted a tweet about a huge transfer of “38,918 #ETH ($ 121,966,542) from an unknown wallet to another unknown wallet”.
???? ???? ???? ???? ???? ???? ???? ???? ???? ???? 38,918 #ETH (121,966,542 USD) transferred from unknown wallet to unknown wallet https://t.co/4BA937wZCL
– Whale alert (@whale_alert) August 11, 2021
Another 2,000 BTC ($ 90,717,779 / roughly Rs 675 billion) has been remitted to Binance by Xapo, the Whale Alert tracker reported on Aug. 11 at 4:17 a.m. IST.
???? ???? ???? ???? ???? ???? ???? ???? ???? 2,000 #BTC (90,717,779 USD) transferred from #Xapo to #Binancehttps: //t.co/cK8L07Vsem
– Whale alert (@whale_alert) August 10, 2021
Here are a few more tweets about massive cryptocurrency transfers:
???? ???? ???? ???? ???? ???? ???? ???? ???? ???? 4,000 #BTC (183,669,370 USD) transferred from #Xapo to #Binancehttps: //t.co/LKAPJiZJhd
– Whale alert (@whale_alert) August 10, 2021
???? 5,774 #ETH (USD 18,242,348) transferred from the Celsius network to an unknown wallet https://t.co/BDcQXeO83e
– Whale alert (@whale_alert) August 10, 2021
???? ???? ???? ???? 1,000 #BTC (45,292,173 USD) transferred from #Coinbase to #Binancehttps: //t.co/K52yTdOSDT
– Whale alert (@whale_alert) August 10, 2021
???? ???? ???? ???? 1.001 #BTC (45,337,465 USD) transferred from #Coinbase to #Binancehttps: //t.co/NVERab44l3
– Whale alert (@whale_alert) August 10, 2021
Both Bitcoin and Ethereum showed some signs of recovery in August after the weak months of June and July. The price of Bitcoin as of August 11th is roughly Rs. 34.46 lakhs, which is the highest value since May 17th, when the digital token was valued at $ 43,541 (roughly 32.65 lakhs). Not to mention, on July 20, Bitcoin hit its low in the past two months when it stood at $ 29,793 (roughly 22.34 lakhs). To learn more about how some of these cryptocurrencies have performed over the past few months, click here.
Ethereum, on the other hand, opened at around Rs 2.41 lakhs, up 2.55 percent on August 11 from its previous closing price of around Rs. 2.35 lakh. Click here to follow Ethereum’s live prices.
Interestingly, Ethereum’s prices on August 11th are the highest since May 18, when it was valued at $ 3,377 (roughly 2.53 lakhs). While Ethereum has yet to break the May 18 record, the cryptocurrency has rallied quite a bit after falling to $ 1,786 (roughly 1.33 lakhs) on July 20.
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