Cryptocurrencies

Nearly $500 Million in Bitcoin Moved from 2013-2015 Wallets in 24 Hrs

Nearly $500 Million in Bitcoin Moved from 2013-2015 Wallets in 24 Hrs

Twitter user @SpiryBTC has alerted his followers about 3 whale bitcoin wallets which have moved 125,000 BTC (appr. $495 million) in the past 24 hours.

Enormous BTC Transfer

@SpiryBTC identified the following accounts, which were opened between 2013 to 2015, that have moved huge amounts of digital currency:

  • https://btc.com/1EBHA1ckUWzNKN7BMfDwGTx6GKEbADUozX
  • https://btc.com/198mmEcqMgmjmi4pXi48hRaZyK5GaPDmJt …
  • https://btc.com/1J7fmT3Wv62u4p6FuwbVJQXhQE3HiH4AQs …

The mover also transferred his bitcoin cash (BCH). At press time, it’s unclear what the account holder is trying to do with this large amount of cryptocurrency. The funds have also not yet been moved to an exchange to sell – so it does not appear that the holder is trying to dump his BTC/BCH – despite rough bear market conditions.

Notably, BCH may be one of the worst hit digital currencies due to this year’s extended bear market. The bitcoin (BTC) fork, which was initiated on August 1st, 2017, had first resulted in only two cryptos which people referred to as bitcoin cash.

BCH Deflating Rapidly

However, when the Craig Steven Wright and CoinGeek CEO Calvin Ayre led community forked the BCH chain again – against Roger Ver et al – on November 15th, 2018 – two new blockchains: bitcoin SV and bitcoin ABC (which took the BCH ticker) have emerged.

Both SV and BCH have seen poor performance in their prices and adoption since the recent fork. Today, Stellar (XLM) moved past BCH in market cap. XLM market cap stands at $2.9 billion while BCH market cap has plummeted to $2.7 billion.

Institutional Players Unfazed By Market Crash

Despite the market crashing, Nasdaq, the world’s second-largest stock exchange, is still moving forward with its plans to launch bitcoin (BTC) futures contracts by next year.

In more seemingly good news, bitcoin is trending again on Google, the /r bitcoin Reddit thread surpassed 1 million subscribers, and Glassdoor reported recently that the blockchain job market is booming again.

As the bear rages, real work and real projects are going on. As CryptoCoreMedia reported, a very promising new privacy coin called Pirate (ARRR) has been launched. Its mainnet went live in August this year.

The world’s largest digital asset exchange, Malta-based Binance, also does not seem to be slowing down its operations due to the tough market. Instead, Binance is more bullish than ever on its outlook. In fact, just today Binance CEO Changpeng Zhao revealed that Binancechain would be launching very soon.

Zhao noted:

“In a couple months or so, and you will be able to issue tokens on that….I think there will be millions of coins and thousands of blockchains.”

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