As per the recent transactions of the cryptocurrencies from the crypto trades platform blockchain.com. The cryptocurrency platform noticed a crypto whale seen to have transferred its accumulated 74,105 Bitcoins worth the value of approximately $ 1.58 billion. The wallet at which these cryptos were sent is considered to be unnoted in its transactions.
What is a cryptocurrency whale?
The cryptocurrency whale is considered to be an individual or an organization that is healthy in terms of monetary potential. These wales execute huge amounts of transactions into the cryptocurrency and sometimes are responsible for the collateral damage of the cryptocurrency market.
With the huge amount of monetary support, these cryptocurrency whales are able to manipulate the market in terms of switching between the selling and buying process in the neutral market.
In one another similar transaction, 50,562 BTC were moved to some unknown wallet, the approximate value of these bitcoins is considered to be $ 1.08 billion. Similarly, there was another transaction of 23,542 bitcoins which was of a value of approximately $505 million.
In a similar manner. There were some recent transactions through these crypto wallets, also some transactions were done in multiple wallets and the proposition of 10,000 Bitcoin transactions each, along with some transitions like 4000 bitcoins and 562 bitcoins.
The transactions like these are carried out when they are in a process of accumulating these cryptocurrencies for a longer time. In such a scenario these cryptocurrency whales will tend to transfer their cryptocurrency from the exchanges to the wallet.
As per the recent market fall and some historical prices it is also considered that multiple transactions and the huge amount of transactions in any market is responsible for the risk of market manipulation. In such a process if there are large amounts of monetary transactions then there is the risk of theft and potential damage to that cryptocurrency unit holder.
As per a market report, first time in history, the crypto market is considered to be less volatile than some major indices of the market checks like the Nasdaq and S&P 500. This situation can be effectively evaluated from the last volatile conditions of the market of Bitcoins in which the Bitcoin prices were able to get momentum from $ 9,000 to $ 60,000 in just one year period.
Along with the transactions of Bitcoin, these cryptocurrency whales performed other transactions from some other wallets with Ethereum, dogecoin, and XRP. All these transactions cost approximately $412,300,000 in the last 24 hours transactions. The wallet at which these cryptos were sent is considered to be unnoted in its transactions.