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Crypto Whales Shifted Whopping $1.26 Billion In Bitcoin As BTC Broke Above 34,200

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Mon, 01/04/2021 - 08:58
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Yuri Molchan
Large cryptocurrency holders transferred $1,260,129,842 after Bitcoin surpassed the 34,000 level and rose higher before the current pullback
Crypto Whales Shifted Whopping $1.26 Billion In Bitcoin As BTC Broke Above 34,200
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Whale Alert has shared that over the past fourteen hours, major crypto owners, known as whales, have shifted an eye-popping amount of more than $1,260 billion in Bitcoin just as the flagship cryptocurrency loved by financial institutions surged above the $34,200 level on Sunday.

39,331 Bitcoins moved by anonymous crypto owners

Over the past fourteen hours, crypto tracker Whale Alert has noted nine gargantuan Bitcoin transfers, carrying between 2,000 BTC and over 9,000 BTC. Among them were several lumps worth 5,625 BTC and 3,895 BTC.

The largest amount of BTC shifted in one go totalled 9,156 Bitcoins.

Only three of those transfers were made to cryptocurrency exchanges – Bittrex, Bitstamp and Bitflyer. The rest of the funds were moved between anonymous wallets.

The total amount of wired BTC equals 39,331 BTC or $1,260,129,842 in fiat USD.

BTC
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Related
Bitcoin's Rally to $30,000 Featured on Front Page of Financial Times

Bitcoin blasts above $34,000, pulls back to the $32,300 zone

On Saturday, the second day of 2021, Bitcoin blasted past the $30,000 resistance level and went higher the same day, breaching $33,000.

On January 3, BTC surged to a new all-time high $34,728 on the Kraken exchange.

Bitcoin’s market can has now exceeded $599.5 billion.

Grayscale now holds $20.2 billion in crypto

Experts believe that one of the major drivers for Bitcoin in late 2020 and now has been the active purchasing of large financial institutions into Bitcoin.

On 31 December, one of them, Barry Silbert's Grayscale Investments, shared that on that day it kept a mind-blowing $20.2 billion worth of crypto assets under management.

Among them was $17,475.8 million held by Grayscale Bitcoin Trust.

BTC
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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.