thecryptobasic.com
Whales Moved funds to exchange after nine years.
Blockchain data has shown the transfer of a large amount of Bitcoin ($BTC) to an address on the Kraken cryptocurrency exchange.
According to crypto analytics platform Ok Link, a total of 5,000 $BTC were transferred from an old Bitcoin address to Kraken.
The 5,000 $BTC were transferred from a Bitcoin address created as far back as 2013 when the world’s largest cryptocurrency was not as valuable as it is today.
At the time of the transaction, the 5,000 $BTC were valued at around $100 million. Popular crypto media outlet Wu Blockchain also shared the development on Twitter.
The Bitcoin whale address (18xGHNrU26w6HSCEL8DD5o1whfiDaYgp6i ) transferred out 5000.01 $BTC at 04:50:38 (UTC+8) on September 5th to the Kraken, which is worth about $100m now. The wallet was created and bitcoins were transferred to this address in 2013. https://t.co/nXWa0HV3oi
— Wu Blockchain (@WuBlockchain) September 5, 2022
Bitcoin Investors Worries
It is expected that the owner of the funds could likely sell a huge portion of it, which may plunge the price of the top asset class. The transaction has continued to cause panic in the crypto community, as many fear that a transfer of this sort could wreak further havoc on the value of $BTC.
cool more dump start soon !
— Mohammed Nahid ₿ (@M_nahid92) September 5, 2022
However, Bitcoin is still changing hands at around $19,872, up 0.3% in the last 24 hours.