Whales withdraw over $97 million in Bitcoin from Coinbase

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A giant whale displaced nearly one hundred million dollars worth of Bitcoins in a single transaction.

Whale Alert Whale-Tracking Bot Discovered Massive BTC Transfer and report details for its 1,9 million Twitter followers.

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The whale transferred 2.001 BTC, worth $97,29 million from cryptocurrency exchange Coinbase to an unknown wallet.

Blockstream says that the order has a fee of 0.000102 BTC, worth $5,21 at press time.

Look carefully at the receiving address, BitInfoCharts revealed that the receiving wallet is related to crypto exchange OKEx. The BTC receiving address is a cold wallet, indicating that the Bitcoin has been used offline.

As whales move BTC into cold wallets, data analytics firm Glassnode says that large amounts of Bitcoin are moving from the weak to diamond hands.

Bitcoin supply is going liquid at a rate of 100.000 BTC ($5,01 billion) per month. Liquid coins are those that are sent to an address with little history of spending, often associated with investor accumulation during a bull market.”

At the time of writing, Bitcoin is up 5,83% on the day and deal for $51.283.


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