Mysterious Transaction: $260M In Bitcoin Sent To An Unknown Wallet
- Shams ul Zoha
- January 7, 2023
- 10:34 am
WHAT YOU SHOULD KNOW
- Cryptocurrency whales can have a significant impact on the markets with their individual actions.
- The cost of selling enough Bitcoin to cause a 2% decrease in price on any given exchange can range from $15 to $30 million.
Two anonymous cryptocurrency wallets recently conducted a transaction worth $260,859,174 in Bitcoin. This amount is equivalent to the current BTC/USD exchange rate plus 0.85%.
The identity of the individual behind this bitcoin wallet address has been uncovered as #
A transaction of $260 million worth of Bitcoin was recently sent to an unidentified recipient, with the Bitcoin wallet address of 1NRvGNx72TJAw6eJrFxpz7mdxQfxNSBdkk.
It is important to note that cryptocurrency whales, who own large amounts of Bitcoin, can have a significant impact on the markets with their individual actions. If the whale decides to liquidate their Bitcoin holdings, it could have a significant effect on the price of BTC due to the large amount of coins held.
The cost of selling enough Bitcoin to cause a 2% decrease in price on any given exchange can range from $15 to $30 million. It is improbable that the Bitcoin whale in question is searching for liquidity, as this transaction was not directed to an exchange.
Rather than keeping the funds in the same wallet, they may be moving them to a different one for added protection. Glassnode reports that there are currently 218,490 Bitcoin wallets with a balance of more than $100,000 in BTC. In the last 24 hours, Bitcoin has seen a 0% decrease in its price.
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