Two of the Biggest Bitcoin Whales on Record Are Moving Millions in Crypto to Coinbase

Crypto whale watchers are tracking two massive Bitcoin holders who are sending large amounts of BTC to Coinbase.

The first whale moved a total of 3,500 BTC worth $113.2 million across three separate transactions – all in the span of less than one hour, according to the ledger monitor Whale Alert.

The whale is the 13th largest on record, according to the current rich list from BitInfoCharts.

• 1,500 BTC worth $48.6 million transferred from unknown wallet to Coinbase

• 1,000 BTC worth $32.3 million transferred from unknown wallet to Coinbase

• 1,000 BTC worth $32.3 million transferred from unknown wallet to Coinbase

The total transaction fees combined cost just $89.61.

Minutes after the first whale sent its last transaction, a second whale moved 1,698 BTC worth $55.4 million from another wallet of unknown origin to Coinbase.

The sending wallet was also one of the richest in existence before the wallet was drained, coming in at number 841 on the BitInfoCharts rich list.

Source: BitInfoCharts

Although this pair of Bitcoin whales may be looking to sell their coins on the leading US exchange, data from the analytics firm Glassnode shows the majority of BTC holders continue to pull their coins off of exchanges to non-custodial wallets.

The number of addresses containing 1,000 BTC or more is also on the rise and has spiked to about 2,460, up from 2,130 at the start of the year.

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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 loses 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.

Featured Image: Shutterstock/Yurchanka Siarhei


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