{"id":47012,"date":"2021-04-26T01:47:37","date_gmt":"2021-04-26T05:47:37","guid":{"rendered":"https:\/\/www.opensource.im\/uncategorized\/power-transaction-bitcoin-whales-move-over-6b-worth-of-crypto-in-a-day-benzinga.php"},"modified":"2021-04-26T01:47:37","modified_gmt":"2021-04-26T05:47:37","slug":"power-transaction-bitcoin-whales-move-over-6b-worth-of-crypto-in-a-day-benzinga","status":"publish","type":"post","link":"https:\/\/euvolution.com\/open-source-convergence\/bitcoin\/power-transaction-bitcoin-whales-move-over-6b-worth-of-crypto-in-a-day-benzinga.php","title":{"rendered":"Power Transaction: Bitcoin Whales Move Over $6B Worth Of Crypto In A Day – Benzinga"},"content":{"rendered":"

Bitcoin (CRYPTO: BTC) whales moved over $6 billion worth of the cryptocurrency on April 22.<\/p>\n

What Happened: According to acrypto transaction tracking websiteWhaleAlert, most of the over $6 billion worth of transactions originated from a wallet managed by a crypto asset custodian Xapo, whichwas acquiredby Coinbase Global Inc. (NASDAQ:COIN) in 2009.<\/p>\n

The $321 million transaction transferred 6,000 Bitcoin from the custodians wallet, 251 Bitcoin ($12.5 million)were sentto an unknown wallet that received and later moved over 306,000 Bitcoin over its brief year of activity.<\/p>\n

The second wallet received nearly 5,750 Bitcoin (over $286 million) from worlds the top cryptocurrency exchange Binance andsent itto two unknown wallets in one transaction. This last wallet initiated a series of minor but still large transactions.<\/p>\n

The pattern was always one transaction with two outputs, one receiving the bulk of the balance and the other one no more than a couple hundred Bitcoin.<\/p>\n

Why It Matters: The purpose and nature of those transactions are unclear, but they follow major BTC price movements.<\/p>\n

According to CoinMarketCapdata, Bitcoin is fluctuating around $50,000 at press time. It lost around 17.75% this week.<\/p>\n

Given the recent corrections, market participants are speculating about where Bitcoin may be headed next. Scott Minerd,the chief investment officer at Guggenheim Partners, a financial services firm managingover $310 billion,believesthat Bitcoin could go as low as $20,000.<\/p>\n

See also:Bitcoin's Rally Not A Bubble, It's A Beginning Of Mainstream, Says Investor Bill Miller<\/p>\n

JPMorgan strategist Nikolaos Panigirtzoglou, on the other hand,suggestedthat the coin will break new lows if it does not regain $60,000 soon.<\/p>\n

2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. <\/p>\n

<\/p>\n

Continued here:
\nPower Transaction: Bitcoin Whales Move Over $6B Worth Of Crypto In A Day - Benzinga<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin (CRYPTO: BTC) whales moved over $6 billion worth of the cryptocurrency on April 22. What Happened: According to acrypto transaction tracking websiteWhaleAlert, most of the over $6 billion worth of transactions originated from a wallet managed by a crypto asset custodian Xapo, whichwas acquiredby Coinbase Global Inc<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24697],"tags":[],"class_list":["post-47012","post","type-post","status-publish","format-standard","hentry","category-bitcoin"],"_links":{"self":[{"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/posts\/47012"}],"collection":[{"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/comments?post=47012"}],"version-history":[{"count":0,"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/posts\/47012\/revisions"}],"wp:attachment":[{"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/media?parent=47012"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/categories?post=47012"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/tags?post=47012"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}