A Bitcoin wallet moved 4,997 BTC to cryptocurrency exchange, Bitfinex yesterday, according to the latest data published by blockchain tracking platform Whale Alert. Large Bitcoin transactions saw a dip over the weekend amid price stability in the world’s most valuable digital currency.
The total value of the latest Bitcoin transaction stands at around $180 million. The mentioned transfer was executed on 31 May at 13:46 UTC. The latest transaction appeared approximately one week after a BTC owner moved 9,999 Bitcoin to an unknown cryptocurrency wallet.
Crypto analytics firm, Santiment reported a surge in BTC accumulation by Bitcoin millionaires. Large Bitcoin wallets added approximately 30,000 coins during the last week of May 2021. BTC whale addresses (holding between 100 and 10,000 BTC) are now holding more than 9 million coins.
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Similar to the latest movement of 4,997 BTC, a Bitcoin address transferred 800 coins worth nearly $30 million from a wallet to the digital exchange, crypto.com. The transfer was recorded on 31 May at 21:58 UTC.
Bitcoin’s volatility has dropped slightly since the start of this week amid price stability. According to the latest data published by the crypto firm, Bybt.com, nearly $130 million worth of BTC positions were liquidated in the last 24 hours.
Institutional Adoption of Bitcoin
Despite the latest dip in Bitcoin and other cryptocurrency assets, the adoption of BTC has increased in the last few weeks. Earlier this week, the Bank of New York Mellon Corporation, commonly known as BNY Mellon, announced that it is planning to expand its presence in BTC and cryptocurrency market through a dedicated crypto unit in Ireland. Carl Icahn, the US-based billionaire and Founder of Icahn Enterprises, surprised everyone with his positive comments about BTC and cryptocurrencies last week. During an interview with Bloomberg, the former critic of BTC said that his firm is studying the crypto market for a potential investment of up to $1.5 billion.
Bitcoin is currently trading near $37,000 with a market cap of more than $690 billion.