Two sizable pieces of Bitcoin were moved from the top U.S. cryptocurrency exchange Coinbase to anonymous wallets a little more than 15 hours ago, according to the well-known cryptocurrency tracking website Whale Alert.
This occurred place when Bitcoin briefly fell below the $27,000 mark.
Anon whales buy BTC on the dip
These two transactions, containing 11,533 BTC and 11,347 BTC respectively, were two consecutive ones, according to Whale Alert. These are the same as $316,300,407 and $311,198,260 respectively.
Even Nevertheless, Whale Alert saw inbound cryptocurrency transactions on Coinbase despite the price fall. Before the aforementioned transactions, probably before the price fell, two anonymous wallets paid exactly identical quantities of Bitcoin (1,627 BTC each) to this reputable exchange.
Coinbase sells goods in addition to bitcoin. 19,635 ETH were sent from each of two anonymous wallets to the aforementioned cryptocurrency exchange.
Reason for Bitcoin’s 2% plummet
On May 15, Bitcoin reacted by dropping 1.9% as a result of the announcement that the well-known BlockFi cryptocurrency lending platform intended to go down. Since January, the business has been seeking to sell its cryptocurrency platform and around 700,000 client accounts, citing regulatory difficulties as the primary driver of this choice. These efforts, however, have not been successful. Back in November of last year, BlockFi declared bankruptcy.
Another cryptocurrency platform to have disappeared since the start of 2017 is BlockFi. Terraform Labs, its Luna token, and its UST stablecoin all failed in 2022. Three Arrows Capital also failed that year, in the summer. Alameda Research and FTX exchange, which owned it, shut operations in November. Genesis and Digital Currency Group are next on the list.
Bitcoin lost 1.98% as it dropped from the $27,545 level to the $26,890 region. The leading cryptocurrency is currently trading at $27,191 on the Bitstamp platform, having somewhat recovered from its losses.
