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.