Big Crypto Transaction Shown Between Unknown Wallets, Bitcoin Transfer Of Rs 7,395 Crore!

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A huge bitcoin transaction has resurfaced in a whale account. Massive transactions of over 15,078 bitcoin tokens have been detected between two anonymous wallets. The amount of bitcoin transferred by the Whale account to another account is $993,191,088 (approximately Rs 7,395 crore). Whale wallets that hold the bulk of crypto tokens are able to single-handedly influence market movements. Concerns have been raised about the recent bitcoin price drop.

‚ÄúThis transaction was first broadcast on the Bitcoin network on November 15, 2021. At the time of this transaction 15,078.20768150 BTC (Bitcoin tokens) were sent with a price of $991,820,563.67 (approximately Rs.7,385 crore). The current value of this transaction is now 912,564,189.99 (approximately Rs 6,794 crore).” Blockchain.com said.

Since the holdings were not sent to the exchange platform, it appears that the whale wallet holder does not intend to sell the asset yet. In a report, Benzinga said that this could be just a security step from the whale wallet. The report further states that it takes around $15 million (about Rs 111 crore) to $30 million (about Rs 223 crore) in sell pressure to reduce the price of bitcoin by two percent on any given exchange.

There is no information about the owners of these wallets as of now. According to a report by Glassnode, there are 52 lakh 2 thousand 952 bitcoin wallets, whose funds are more than $100,000 (approximately 75 lakh rupees) and which can affect the movement of the market. In early May this year, 19,000 bitcoin tokens were transferred between two unidentified wallets, a report revealed. At that time the transaction was worth 1.1 billion (about Rs 8,235 crore).

Bitcoin is not only the oldest cryptocurrency in the world, but also the largest by market valuation. According to Gadgets 360 Crypto Price Tracker, this crypto coin is currently trading at $68.096 (approximately Rs 50 lakh) per token. The total number of bitcoin tokens in supply currently exceeds 18.8 million, which is 90 percent of the 21 million tokens pre-determined to be created by Satoshi Nakamoto, the anonymous creator of bitcoin.

In its recent report, research firm Glassnode revealed that only 12.9 percent of the total supply of bitcoin has been circulating on various crypto-exchanges since August this year, indicating that holders are trying to get rid of their assets on the exchange platform. Happy to hold them instead.

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