Crypto Whales Move Approximately 4 Billion Dollar Worth Bitcoins after Sunday Morning Crash

Soon after the crypto market crash that took place on April 18, 2021, several Bitcoin whales were witnessed moving their Bitcoins. One of the old-school owners of Bitcoin was seen moving 150 Bitcoins which worth roughly US$ 8.5 Million. The same day afternoon two whale movers moved their Bitcoin funds through decentralized exchange Binance into three different digital wallets. One particular digital wallet containing Bitcoin was reportedly worth US$ 3.3 Billion.

On the morning of 18 April (Sunday) 2021, the completely crypto industry was crashed and the crypto rally suffered immensely. The winners became the losers wherein Bitcoin lost at least 14 to 15% in terms of its value. Both Bitcoin and Ethereum saw huge declines in their values as Bitcoin was pushed back at US$ 51,000 while Ethereum was pushed back at US$ 2,000. This was the second major slid that occurred to the crypto rally since January 1, 2021, while the first was in the month of February 2021.

It was later reported that the slid was caused because of fake news, which suggested that US Administration is coming after money launderers. Particularly, those launderers who were misusing digital currencies for whitening their illegal earnings.

However, the same day the crypto industry also witnessed whales moving and re-settling their crypto funds. Around 11 p.m. on Sunday, two major whale transactions took place in blocks 679,743 and 679,739. Both the transactions were executed successfully by the whales and converted into three digital wallet addresses. It was further noted that the two transactions stemmed from one of the top crypto trading platforms of the world, Binance. It is expected that the three addresses, which have been created by whales, are going to be “cold” wallets. This meant that the wallets would be kept offline to avoid any unwanted occurrence of fraud or theft attack.

The three wallets at Binance now hold 58,184, 20,496, and 11,000 Bitcoins in numbers. However, the identity of the beneficiary of these wallets is unknown. Yet whoever it is, he or she is one of the biggest whales of Bitcoin.

Thereafter another Bitcoin move comprising over 150 Bitcoin (which were from the time of 2010) were seen transferred. However, surprisingly the resettling of 150 Bitcoins worth approximately US$ 8.5 Million took place before the crypto market was crashed. These Bitcoins were found to be minted in the month of July 2010.

Eventually, it was found out that on Sunday before and in between the slid, whales moved billions of dollars worth of Bitcoins. It was noted that Bitcoin worth US$ 4 Billion was moved in a single day. It is not clear so far, why these major transfers took place but one thing is for sure the crypto rally has not ended yet.