Anonymous Whale Transfers $140M Worth Bitcoin to Coinbase
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Coinbase Receives 3,684 BTC from Anonymous Whale
According to a tweet published by popular blockchain tracking account Whale Alert, in the past twelve hours, an anonymous crypto whale has moved a staggering 3,684 Bitcoin worth 138.9 million at the time to Coinbase cryptocurrency exchange, the largest US-based crypto trading venue.
The exact purpose of the transfer remains unknown, however, if such a sum was to be sold all at once, it could tumble the Bitcoin prices, at least for the short term.
It is worth noting that since Bitcoin is based on a Blockchain ledger where every transaction is publicly recorded, and the hefty shift of funds was quickly noted by crypto enthusiasts, platforms, and websites.
Crypto Market Still in Red
The world's most popular cryptocurrency by market capitalization, Bitcoin (BTC) was up but still trading below the $40,000 price mark as the ongoing conflict between Russia and Ukraine continues. The second-largest cryptocurrency by market capitalization, Ethereum was down by 0.9 percent at $2,515.
The global crypto market cap still struggles at just over $1.7 trillion, according to cryptocurrency tracker CoinGecko.