Benzinga - A Bitcoin (CRYPTO: BTC) whale on Thursday moved over 31,000 Bitcoins worth over $822 million, from their cold wallets.
What Happened: According to a blockchain intelligence firm Arkham Intelligence, the BTC holdings of the whales trading firm were in wallets that had remained inactive since late 2022.
These wallets received a substantial sum of 21,600 BTC directly from popular exchanges Binance and Huobi in early October 2022.
gmJust over one hour ago, a large trading firm moved over 31,000 BTC ($822M) from their cold wallets.
The BTC had been previously stored in wallets last active in late 2022, receiving BTC directly from Binance and Huobi. pic.twitter.com/EaZJJiiN7G
— Arkham (@ArkhamIntel) May 25, 2023
See More: A Stay At The Floating Palace From James Bond's ‘Octopussy’
Why It Matters: Earlier on Wednesday, unknown Bitcoin wallets transferred over $1 billion worth of Bitcoin to unknown wallets in six massive transactions.
According to Whalealert, an on-chain tracker, anonymous wallets on Wednesday transferred large amounts of Bitcoin. Specifically, five unknown wallets transferred 7,206 BTC in total to a single anonymous wallet.
In addition, a sixth transfer also moved an equivalent amount of Bitcoin but to a different anonymous wallet. This means a total of 43,236 BTC Bitcoins were transferred, worth $1.13 billion at current market prices.
Price Action: At the time of writing, BTC was trading at $26,447, up 0.94% in the last 24 hours, according to Benzinga Pro.
Read More: Bitcoin, Ethereum, Dogecoin Rise Amid Positive Economic Data, Analyst Predicts Record High For King Crypto
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.