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Whales Shift More $4 Billion in Bitcoin, While BTC Declines to $48,500

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Fri, 09/03/2021 - 07:56
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Yuri Molchan
Bitcoin whales have transferred over $4 billion worth of Bitcoin, while smaller whales' transactions are reaching the highest levels since July
Whales Shift More $4 Billion in Bitcoin, While BTC Declines to $48,500
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According to data from Whale Alert, in the last several hours, large holders of cryptocurrencies, known as whales, have made six big transfers of Bitcoin, carrying 13,500 BTC on average.

Each of these transfers, as per the details provided by the popular crypto tracking service, have been made by the Binance exchange, and the funds were pushed between its internal wallets. The total amount of BTC transferred is 81,556 coins, equaling $4,026,607,298.80.

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Image via Whale Alert

On Sept. 2, the flagship cryptocurrency, Bitcoin, managed to break above the $50,000 level. Previously, this price mark was reached on Aug. 23 and, before that, back in mid-May. This time, however, BTC failed to fix above $50,000 and rolled back to the $48,400 area.

Related
Bitcoin Recaptures $50,000 After Declining for Over Week

Santiment on-chain data vendor has reported that as Bitcoin surged to $50,000, the number of transactions larger than $100,000 reached a historic peak since the end of July.

At press time, the digital gold is changing hands at $49,500, as per data provided by CoinMarketCap.

A lot of large Bitcoin transactions have been noticed by Whale Alert recently. Previously, U.Today covered that anonymous whales first transferred almost $3 billion (Aug. 28) and the following day, they moved more than a whopping $4 billion in Bitcoin.

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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.