Bitcoin Whale Transfers 19,000 BTC Worth $1.1 Billion

Bitcoin whales have accelerated the transfer activity of the world’s most valuable digital currency. According to the latest data published by crypto Analytics Analytics Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision making. In the trading space, analytics are applied in a predictive manner in an attempt to more accurately forecast the price. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analyt Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision making. In the trading space, analytics are applied in a predictive manner in an attempt to more accurately forecast the price. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analyt Read this Term and 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 platform, Whale Alert, a large BTC address moved 19,000 Bitcoin to an unknown crypto wallet.

The total value of the transaction currently stands at around $1.1 billion. The transfer was executed on 5 May at 19:38 UTC. The mentioned Bitcoin transaction was recorded on blockchain.com.

The movement of large BTC amounts has increased since the start of this year amid a surge in the price of Bitcoin. The cryptocurrency is up by nearly 90% over the last 4 months. As of writing, BTC is trading near $57,000, which is up by more than 5% in the last 24 hours. The total market cap of Bitcoin stands at around $1.06 trillion.

Apart from the latest transaction, Whale Alert highlighted a jump in BTC transfer activities across different digital exchanges. Crypto whale moved 2,250 Bitcoin worth approximately $125 million yesterday from a digital wallet to cryptocurrency exchange Coinbase. A BTC whale address moved 820 coins worth more than $47 million from Xapo to crypto exchange Binance earlier today.

In addition to Bitcoin, whale activity across other digital currencies including Ethereum, XRP, USDT and Binance Coin has increased in the last few days. Earlier today, a leading Ethereum whale address transferred 159,391 ETH to an unknown crypto wallet. The total value of the mentioned transaction stands at around $558 million.

Institutional Interest in Bitcoin

Latin American e-commerce giant, MercadoLibre became the latest company to announce the accumulation of Bitcoin. The company revealed yesterday that as a part of its treasury strategy, it has purchased nearly $7.8 million worth of Bitcoin. According to the latest weekly digital asset inflows report by CoinShares, BTC-related investment products attracted $442 million worth of institutional investments. MicroStrategy, one of the world's leading business intelligence firms, now holds more than 91,000 BTC worth over $5 billion.