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Bitcoin whales move over $1 billion between wallets as king coin holds steady in the market

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BTC whales move $1 billion worth king coins, in-line to Bakkt's announcement

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With Bitcoin [BTC] maintaining its position above the $10,000 mark, the cryptocurrency market saw a huge transfer of the king coin between wallets. This transfer follows a few days of steady movement by Bitcoin, the world’s largest cryptocurrency. As a result of this steady movement, BTC whales have become active in the market again.

Whale Alert, one of the web’s major cryptocurrency transaction trackers, shared news of this transfer on Twitter. The tweet read,

“94,504 #BTC [1,018,147,922 USD] transferred from unknown wallet to unknown wallet”

The transaction was successfully completed in 25 confirmations over Bitcoin blockchain. BTC was transferred between multiple wallet addresses and wallet address 37XuVSEpWW4trkfmvWzegTHQt7BdktSKUs. Time stamp for the transaction was 03:30:05 UTC, 06 September 2019. The hash recorded for the same was 4410c8d14ff9f87ceeed1d65cb58e7c7b2422b2d7529afc675208ce2ce09ed7d and 0.06 BTC was charged as transaction fee. Further, the block height for the transaction was #593468.

The transaction in question caught the attention of many in the cryptocurrency community, with noted Economist and trader Alex Kruger claiming that Bitcoin from the largest non-exchange address may be on the move.

After weeks of disappointing movement, Bitcoin has finally found some solid support for itself in the market. At press time, the coin was hiking by 1.46% over 24 hours, while being priced at $10,733 with a market cap of $192.33 billion. Bitcoin’s movement, both in the market and between wallets, may be attributed to Bakkt’s preparedness to launch Bitcoin Daily and Monthly Futures. 

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Biraajmaan is a full-time journalist at AMBCrypto covering the US market. A graduate in Automobile engineering, he writes mainly about regulations and its impact with a focus on technological advancements in the crypto space.
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