Crypto Whales Send Hundreds of Millions of Dollars Worth of Bitcoin and Altcoins to Exchanges As Markets Pause
Crypto whales have suddenly come to life in the last 24 hours, with massive amounts of coins being sent to exchanges as markets start to show signs of possible weakness.
Blockchain monitoring service Whale Alert has spotted numerous large entities sending large stacks of Bitcoin (BTC) and other digital assets to various crypto exchanges.
Whale Alert spotted two transfers of Ethereum (ETH) worth over $40 million from unknown wallets to crypto exchange Coinbase, just hours apart, before another wallet was spotted sending $28 million in ETH to Gate.io.
- 21,280 ETH ($40,626,595) transferred from unknown wallet to Coinbase
- 21,506 ETH ($40,815,021) transferred from unknown wallet to Coinbase
- 15,000 ETH ($28,701,747) transferred from unknown wallet to Gate.io
Hours later, 1,865 Bitcoin worth $56,014,838 transferred from an unknown wallet to Coinbase just as BTC was losing the $30,000 mark.
Just ahead of its halving event, a Litecoin whale was spotted sending 500,000 LTC worth $46 million to Binance, the largest crypto exchange in the world.
At the same time, Whale Alert notified of two large transfers from the USDC Treasury, where Circle’s stablecoins are minted, to Coinbase.
- 53,979,170 USDC ($53,957,416) transferred from USDC Treasury to Coinbase
- 75,000,000 USDC ($74,992,500) transferred from USDC Treasury to Coinbase
Additional, smaller transfers seen in the same time frame include a $7.4 million transfer of Polygon (MATIC) from an unkown crypto wallet to Binance, and a $12.3 million transfer of 1Inch (1INCH) to crypto exchange OKX.
At time of writing, Bitcoin is down 1.3% in the last 24 hours.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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