U.Today – On-chain data aggregator IntoTheBlock has reported that while the cryptocurrency market has been hit by massive FUD, the biggest whales continue to accumulate the world's flagship digital currency no matter what.
This has happened while other big whales were dumping large amounts of BTC.
Biggest Whales Earn 500 Million Bitcoin
According to a recent statement by IntoTheBlock, the number of largest Bitcoin wallets has reached the highest peak since May of this year. In total, these wallets account for 0.1% of the total Bitcoin supply. On Monday, they accumulated another 7,130 BTC, worth $436 million.
That’s not the only recent large Bitcoin purchase they made. As Akrham reported, the German government continues to sell BTC. Earlier today, this entity transferred 400 Bitcoins to major cryptocurrency trading platforms Coinbase (NASDAQ:) and Kraken. This amount of BTC is valued at approximately $24.34 million.
However, the first transfer to exchanges took place last week, when the German government sent a staggering 1,700 BTC to Coinbase, Bitstamp and Kraken.
Bitcoin falls below $60,000
On Monday, the world's leading digital currency surprised the market when it suddenly plummeted, falling from $62,680 to the $59,220 area. This was the peak of massive Bitcoin outflows that were recorded over the last week. According to a recent report from CoinShares, a whopping $630 million worth of BTC was withdrawn.
Today, Bitcoin has made a successful attempt to recoup some of its losses and recovered to $61,152, where it is changing hands at the time of writing.
This article was originally published on U.Today.
