BTC $43586.62 (0.29%)
ETH $3091.48 (2.91%)
USDT $1.00 (0.03%)
BCH $502.50 (-2.5%)
BSV $129.57 (0.10%)
LTC $151.69 (0.66%)
BNB $348.43 (0.60%)
ADA $2.22 (-2.1%)
DOGE $0.20 (-0.4%)
BTC $43586.62 (0.29%)
ETH $3091.48 (2.91%)
USDT $1.00 (0.03%)
BCH $502.50 (-2.5%)
BSV $129.57 (0.10%)
LTC $151.69 (0.66%)
BNB $348.43 (0.60%)
ADA $2.22 (-2.1%)
DOGE $0.20 (-0.4%)

Over $47M Worth of Bitcoin Transferred to Binance

47M Worth of Bitcoin Transferred to Binance
  • An unknown whale has transferred 1000 Bitcoin to Binance.
  • The amount transferred equates to $47,412,760.
  • At the time of writing, Bitcoin is trading at 47,270.49 USD.

A few hours ago, an unknown whale has transferred his 1,000 Bitcoin (BTC) to the Binance exchange. According to whale alert, the transaction was made on August 16, 2021, at 03:24 UTC.

The transfer came from an unknown owner with multiple addresses and was sent to the Binance exchange address.

Whale
Transaction Details | Source: Whale-alert.io

Based on the transaction summary, the transaction currently has 17 confirmations on the Bitcoin network.  At the time of this transaction, 1,127.23551786 BTC was sent with a value of $54,059,900.97. The current value of this transaction is now $53,532,347.11.

Bitcoin Whales

Of note, the term ‘whale’ refers to an investor with deep pockets who can move the market by buying or selling in large volumes. Given the relatively modest market caps of crypto assets compared to other sectors, the movements of crypto whales can provide important price signals to alert investors.

With that said, a transaction of over $47 million worth of bitcoin in one go may drive the price down. As whales hold large amounts of coins, they become powerful enough to manipulate the valuation and cause price volatility.

Consequently, whale watchers fear that the market may correct anytime soon in anticipation of a possible sell trade. At the time of writing, Bitcoin is trading at 47,270.49 USD with a 24-hour trading volume of $33,697,506,321 and it is up by 1.84% in the last 24 hours.

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Britney is a market analyst who covers stories about the cryptocurrency world. She holds a Business Administration Degree in Finance and aims to let the readers understand crypto from a beginner perspective.