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$1 Bln Bitcoin Transfer: Everything We Know About the New Whale on the Block

  • Alex Dovbnya
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    The mysterious whale created a breeding ground for different theories 

$1 Bln Bitcoin Transfer: Everything We Know About the New Whale on the Block

A gargantuan transfer of 94,504 Bitcoin (about $1.031 bln), which was detected by Whale Alert earlier today, made a substantial amount of buzz within the cryptocurrency community.

It has been specified that the wallet did not belong to any cryptocurrency exchange. In fact, according to BitInfoCharts data, this is currently the fifth richest Bitcoin address (only trailing behind those wallets that belong to cryptocurrency exchanges).

The very first transaction took place on Sept. 6, which means that we have practically no information about this newly created wallet. 

According to London-based Blockchain firm TokenAnalyst, more than 30 percent of this BTC fortune was sent from the Huobi exchange.

As reported by U.Today, the transfer could be linked to the launch of the Bakkt Warehouse, which was slated for Sept. 6.

Cover image via www.freepik.com
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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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