BTC is currently trading near $ 60,000 with a market cap of $ 1.1 trillion.
Bitcoin whales have stepped up their transfer activities in the past few days after the price of the world’s largest cryptocurrency rose significantly in value. Major BTC addresses moved 21,334 bitcoin in three separate transactions on April 1st.
According to the latest data from blockchain tracking and analytics company Whale Alert, a Bitcoin whale address touched 12,000 BTC from the cryptocurrency exchange, Coinbase to a digital wallet on April 1st at 18:40 UTC.
A transaction with 7,134 Bitcoin was reported on April 1, when an anonymous user transferred $ 420 million worth of BTC to an unknown crypto wallet. The transmission was reported at 20:04 UTC.
Additionally, blockchain tracking company highlighted a transfer Value of 2,200 Bitcoin from an unknown wallet on the same day at 18:39 UTC.
The total value of all transfers is around $ 1.2 billion. The last transactions took place after the digital exchange. Coinbase saw massive bitcoin outflows last week. The crypto exchange recorded nearly $ 1 billion worth of BTC outflows in a 24-hour period.
Crypto whales are moving Bitcoin and Ethereum in bulk from leading crypto exchanges to cold wallets amid price fluctuations. The world’s largest cryptocurrency briefly hit $ 60,000 on April 2nd after massive demand from institutional investors. At the time of writing, BTC is trading near $ 59,800 with a market cap of more than $ 1.1 trillion. Ethereum, the world’s second most important digital currency, exceeded $ 2,000 today. ETH has increased by more than 25% in the last 7 days. Additionally, Whale Alert reported an anonymous Ethereum transfer yesterday after a crypto whale put 48,399 ETH in an unknown wallet. The total value of the transaction is approximately $ 96 million.
The price of Bitcoin has increased more than 110% since the beginning of this year. Finance Magnates reported yesterday that the world’s largest digital asset had its best Q1 performance since 2013. However, BTC’s market dominance is decreasing due to a surge in other digital currencies such as Ethereum and Binance Coin.