The total amount of 15,078.20768150 BTC was sent with the current value of $991,820,563.67 (roughly the equivalent of Rs. 7,385 crore).
A massive transaction of more than 15,078 Bitcoin tokens was discovered to have occurred between two wallets with no identity. It is estimated that the amount of Bitcoin that the whale account transferred to another account is staggering $993,191,088 (roughly 793,191.00 crore). 7,395 crore). These whale wallets, which hold massive amounts of crypto tokens have the potential of influencing the market in a single instance, and concerns over Bitcoin value declines have surfaced on the internet.
“This transaction was the first to be transmitted via Bitcoin’s Bitcoin network on November 15th 2021. In the moment of this deal, 15,078.20768150 BTC (Bitcoin tokens) was transferred at an amount of $991,820,563.67 (roughly the equivalent of. 7,385 crore). The value of the transaction is $912,564,189.99 (roughly about Rs. 6,794 crore),” Blockchain.com said.
As the assets were not delivered via an exchange, it is likely that the whale wallet owner is not planning to sell the assets at this time.
In a recent report, Benzinga said it could be a precautionary move by the whale’s wallet. The report also noted that it takes between 15 million (roughly approximately Rs. 110 crore) to $30 million (roughly approximately Rs. 223.23 crore) of selling pressure to increase the value of Bitcoin down by two percent for any exchange.
The details of the people who own these wallets are not known.
According to an study by Glassnode There are 522,952 Bitcoin wallets that have assets worth more than $100,000 (roughly 75 lakh rupees). 75 lakh) and could influence market’s movements.
In May, this year 19,000 bitcoins were moved between two unidentified accounts, news reports had been revealed.
The deal was valued at 1.1 billion (roughly about Rs. 8235 crore)
Bitcoin is not just the most ancient cryptocurrency around the globe and the largest in terms of market value. Bitcoin is currently in the market at $68.096 (roughly 50 lakh rupees). 50 lakh) per token, according to the Gadgets 360 crypto price tracker.
The total amount of Bitcoin tokens that are currently available is 18.8 million. This is 90% of 21 million coins originally envisioned to be created by Bitcoin’s anonymous creator Satoshi Nakamoto.
In its latest report the research firm Glassnode found that of the total amount of Bitcoins, just 12.9 percent has been circulating on different crypto-exchanges from August this year. which suggests that the owners are content with their investments instead of trying to dispose of them through exchange platforms.