The data report of the crypto analytic tracker, Whales Alert, reveals that a Bitcoin Whale has conducted a Bitcoin transaction of 92,857 BTC. However, it seems that the transaction has taken place between two wallets of incognito addresses. The anonymous transfer took place on Tuesday. The transaction fee that was imposed on it was around 0.0096BTc or $83. The number of Bitcoin that was shifted from one wallet to another is approximately 0.7% of the total number of Bitcoins in circulation today, which is a little more than around 18.1 BTC.
Such a large transaction is very rare, even though it is not the first time that a transaction of such a nature was executed. What’s more, and an expert has even been able to trace the origin of the transaction at Bitfinex. One thing to be noted is that BTC Whales are increasing as the price of Bitcoin nears the level of $12,000. According to the statistical report of another cryptocurrency analytic firm, Coin360, the king of cryptocurrencies, Bitcoin, is now being traded at a market cap of $219.60 billion at $120,000.
A Bitcoin Whale is a Bitcoin investor or trader who owns a huge fortune in Bitcoin. The Bitcoin Whale can be a business entity or an individual who possesses around 1000 BTC or more. When the Bitcoin Whales continue to accumulate BTC, the supply of Bitcoin in circulation decreases, resulting in an adverse impact upon the bullish shift in the cryptocurrency shift. With more accumulation, the supply becomes more and more limited, until a bearish trend sets in.
It has been reported that the percentage of Bitcoin supply owned by entities that possess less than 10 BTC has increased from 5.1% to 13.8% over five years, whereas, the percentage of BTC held by businesses that own 100-100,000 BTC has reduced to 49.8% from 62.9% within the same period. The Daily Active Addresses of Bitcoin continue to increase and this indicates that the cryptocurrency will reach new and more profitable price levels within the next couple of years.
