A cryptocurrency whale moved over 74,105 Bitcoin worth over $1.58 billion from a wallet shared on Blockchain.com. The BTCs were moved to wallets of unknown origin. There were two transactions in which the whale moved 50,562 BTC, valued at nearly $1.08 billion; another transaction involved 23,542 BTC, valued at about $505 million. In a series of large transactions, the whale moved 4,000 BTC, 10,000 BTC, 10,000 BTC, 10,000 BTC, 9,642 BTC, 10,000 BTC, 10,000 BTC, 10,000 BTC, and 562 BTC. Those who plan to hold their cryptocurrency investments for a long period send cryptocurrency from exchanges.
The storage of large amounts of money on an exchange presents an additional risk of theft. It was reported last week that different crypto whales transferred Ethereum, Bitcoin, Dogecoin, and XRP in 24 hours, totaling $412,300,000. Talking about Bitcoin’s performance in the current market scenario, a crypto analyst at ARK Invest said, “For the first time in history, bitcoin is less volatile than both the S&P 500 and Nasdaq. The last time volatility was this low, bitcoin rose from $9,000 to $60,000 in less than a year.” Bitcoin was trading at $21,278 at the time of writing, up nearly 3% in the last seven days.