Active whales: Transferred $ 193 million of Bitcoins from a billion dollars?

Luong Hoang Anh
Sep 16, 2018 · 2 min read

According to the Etherumworldnew.com, The bitcoin players are hoping the move from ‘whales’ can have a big impact on the market, especially as the Bitcoin market is in a doldrums. At present, crypto investors are taking the time to understand the motives behind the fact that a 30,000 BTC amount is transferred from a large purse that is said to contain 168,789 BTC. In fact, not just one transaction is detected.

A whale is planning a price dive?

Two transactions have occurred. At first, 30,000 BTCs (worth $ 192 million) were transferred from an electronic walet that many believed to belong to Bitfinex in anticipation of similar moves in the past. However, the second transaction is what is causing investors a headache.

Transaction costs

However, what interests everyone is the cost of the transaction. Obviously, the owner will only have to pay about $ 0.19 to transfer 30,000 BTC — an almost unbelievable figure compared to the cost that a traditional bank would charge to transfer such a large sum.

In an attempt to identify the owner of the purse, some have mentioned 30,000 BTCs that the FBI seized during the Silk Road investigation and sold them to Tim Draper in 2014. However, most People have argued that the act of transferring a huge amount of Bitcoin can be just a routine procedure from a group of owners who want to add or remove a co-signer from a multiple signatures list.

In summary, such important moves often cause speculation in the crypto community, and the reasons behind them are rarely explained adequately. So, to know the exact answer, we can only wait.

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