in

Whales withdraw $ 1 billion in crypto from Coinbase – Latest News, Breaking News, Top News Headlines

Yesterday Whale Alert reported how 13,204 Bitcoins (BTC) left the Coinbase crypto exchange in multiple transactions and went to unknown wallets. Now the crypto community speculates, who was it?

BTC whales leave Coinbase, who was the unknown whale?

According to Whale Alert, 36 separate transactions, each valued between 351 and 391 Bitcoins, took place between 4 and 5 p.m. UTC.

In fact, yesterday the Twitter account reported that 4,501 BTC had left the crypto exchange and were directed to an unknown wallet.

However, it should come as no surprise. It is not the first time that large movements of money by Whales have come out from Coinbase and therefore it will probably not be the last time either.

We can assume that the movement was triggered as a consequence of the most recent bullish momentum that the crypto market has enjoyed and with which Bitcoin reached new highs.

But who was it?

As many will know, the activity in Bitcoin is not really anonymous since the transactions are permanently and publicly maintained on its Blockchain. Consequently, anyone can track the transactions and balances of any Bitcoin wallet address.

Therefore, it shouldn’t be that difficult to figure out who the great crypto whale of BTC is, at least in theory. However, there are ways to increase anonymity and make tracking more difficult.

In this case, the crypto whale generated a new address for each withdrawal transaction it made.

In this way, the person or persons behind this move remains in crypto anonymity. And consequently, the motive behind the withdrawal is also unknown.

However, we could assume that it is a crypto whale that has withdrawn its crypto to a cold storage wallet with the aim of increasing security.

If so, it is worth mentioning that as the whales of BTC accumulate more crypto, the circulating supply of Bitcoin decreases and upward pressures on the price of crypto increase.

And, as we reported from CryptoTrend, during the last week in the crypto market the whales of BTC were not interested in selling their crypto.

We want to know your opinion! Who could be behind these movements?

Did you like the content? Share it

Electroma – When Daft Punk Made Their Movie – Latest News, Breaking News, Top News Headlines

what consequences for the economy of the Alpes-Maritimes?