Bitcoin Whale Account Moves 6,713 BTC to Xapo

Large Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term addresses are on the move again after the recent Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term in the world’s most valuable digital asset. According to Whale Alert, a Bitcoin whale account transferred 6,713 BTC from a digital wallet to Xapo.

Whale Alert mentioned that the transaction was executed on Tuesday 29 June at 1:17 UTC. The total value of the transfer stands at around $230 million. The latest movement from the mentioned Bitcoin wallet came nearly 4 weeks after a leading BTC account moved 4,997 coins from a crypto wallet to digital exchange, Bitfinex.

The world’s largest cryptocurrency is currently going through a bearish market as the overall sentiment has remained negative since 12 May 2021. Bitcoin is down by more than 40% in the last six weeks. Despite its latest rebound, overall institutional inflows remained slow.

“Bitcoin, despite jumping back above $36,000 on Tuesday, is still seeing an extremely bearish sentiment here on Twitter. Historically, when crowd FUD is this notable it's a much lower risk opportunity to get in while traders are awaiting lower prices,” on-chain analysis firm, Santiment mentioned today.

Bitcoin Network

BTC’s Institutional inflows, mining revenues, and trading volume dropped significantly in the last few weeks. “As mining hash-power continues to drop off the network during the largest migration of mining hardware in history, Bitcoin holders market-wide appear to have capitulated at the lows once again. The market realized the largest absolute losses in history and we explore the cross-section of the market most affected,” Glassnode mentioned in a recent report.

Earlier this month, the total number of active Bitcoin addresses reached the lowest level in 12 months. However, despite the latest dip in the overall Bitcoin network activity, Bitcoin whales remained active. In addition to the latest transfer of 6,713 BTC, a leading BTC wallet moved 750 coins worth over $25 million from Xapo to crypto exchange Coinbase. The transfer was executed on 28 June at 20:44 UTC.