• The Informer Post
  • Posts
  • Bitcoin (BTC) and Tether Whales Move $264,000,000 in Crypto As Extreme Volatility Hammers the Market

Bitcoin (BTC) and Tether Whales Move $264,000,000 in Crypto As Extreme Volatility Hammers the Market

May 10, 2020

[the_ad id="93550"]

Bitcoin’s big sell-off is coinciding with a surge of activity from BTC and Tether whales, who transferred a total of $264 million in crypto in the last 24 hours.

Bitcoin whales moved 14,919 BTC worth $143.06 million in the past day. The largest single transaction saw 5,000 BTC worth $48.6 million sent from crypto exchange Bitfinex to a wallet of unknown origin.

? ? ? ? 5,000 #BTC (48,653,072 USD) transferred from #Bitfinex to unknown wallet

Tx: https://t.co/TUthcftF8F

— Whale Alert (@whale_alert) May 9, 2020

According to the whale watching bot Whale Alert, three of the six largest transfers in the last day involved BTC moving from an unknown wallet to an exchange, where the cryptocurrency could be sold in the open market.

Two transfers did the opposite, sending BTC from an exchange to an unknown wallet, which suggests those traders may be locking their cryptocurrency in private wallets.

[the_ad id="95413"]

The last big transfer of the day appears to involve an internal movement from Bitfinex.

Tether whales have also been busy in the last 24 hours.

Whale Alert is tracking two huge transfers totaling 121,104,000 USDT worth $121.3 million.

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.