Bitcoin Whale Address Transfers 6,000 BTC from Binance

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 (BTC), the world’s most valuable digital currency, is currently enjoying a significant bull run as the price of BTC is up by more than 50% in the last 4 weeks. Due to the latest jump in price, BTC’s whale activity has increased rapidly in August 2021.

Whale Alert, a leading Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term tracking firm, highlighted the movement of nearly $292 million worth of Bitcoin from digital exchange Binance to crypto wallet Xapo on 25 August 2021. According to the recent data posted by Whale Alert, Bitcoin millionaire address transferred 6,000 BTC from Binance yesterday at 16:06 UTC.

Earlier this week, Finance Magnates reported a surge in BTC spending by long-term Bitcoin holders. According to the latest report by Glassnode, the percentage of old BTC spent on-chain increased sharply in the last few days.

Commenting on the recent price movement of Bitcoin and its network activity, Alexandra Clark, Sales Trader at GlobalBlock, said: “Whilst uncertainty remains for bitcoin in the short-term, its long-term future is clear, with professionals and academics stating that bitcoin, and digital assets more generally, will replace fiat currencies over the next five to ten years. Many institutions are already scrambling to adopt crypto and blockchain technology in a bid to retain competitive advantage.”

Bitcoin’s Price Action

At the start of this week, Bitcoin crossed the price level of $50,000 for the first time in 13 weeks. Despite the recent 5% correction, the world’s largest cryptocurrency is still trading above $47,000 with a market cap of $900 billion. The latest jump in the price of BTC is mainly due to a rise in its institutional and retail demand. MicroStrategy, one of the largest institutional holders of Bitcoin, recently expanded the company’s BTC portfolio with the acquisition of 3,907 coins. MicroStrategy now holds more than 108,000 BTC with a combined value of over $5 billion.

The total market cap of cryptocurrency assets currently stands at around $2 trillion.