Home Bitcoin News Cryptocurrency Whale Wallet Transactions are Increasing Post Market Crash

Cryptocurrency Whale Wallet Transactions are Increasing Post Market Crash

Cryptocurrency Whale Wallet Transactions are Increasing Post Market Crash

Whales hold enough cryptocurrency that they have the potential to manipulate currency valuations. Immediately post the market crash the whales were not too active in the cryptocurrency space.  They were probably evaluating the market trends.  Now, it just looks like transactions are recovering. Whales are making the best use of the market trends.

Whale Alert expressed: “40,993 BNB (15,895,920 USD) transferred from Binance to unknown wallet.

521,000,000 TRX (29,664,799 USD) transferred from unknown wallet to unknown wallet.

4,200 ETH (10,836,296 USD) transferred from unknown wallet to FTX.

75,000 NEO (1,423,934 USD) transferred from Binance to unknown wallet.

2,754,618,307 BTT (5,447,102 USD) transferred from Huobi to unknown wallet.”

The list of transactions continues.  As it usually happens with major movements in the cryptocurrency market, the latest price collapse is related to different factors like crackdown on crypto operations in Kazakhstan and fears of an outright ban in Russia.

Following Bitcoin’s Crash, the market was shaken to its core and crazy volatility triggered a bearish trend triggering a ripple effect that was widely felt in the crypto market.   Market sentiment plummeted among cryptocurrency holders and investors rushed to sell their shares.  However, not everyone looked at the price crash as a signal to sell – they knew the dip is the time to buy.

The numbers of Bitcoin available for sale has decreased. Reportedly,14.5 million of the total bitcoin distributions is liquid and the supply is not moving and is not trading. This is the highest distribution concentration maintained for a long time.  However, if the wallet holding this liquid supply was increased by just 27% to a total of 4 million BTC, there would be no coins left for sale and the distribution will trend down to zero.

Whales who control most of the supply in circulation took this as the right time to buy and they filled their pockets with all the Bitcoin and crypto dumped on the market for sale.  This has led several investors regret their panic selling.

Whales are buying tens of thousands in Bitcoin every few hours while traders toss their coins in panic. Bitcoin wallets are tracked and found to be buying millions of dollars in worth of bitcoin. Looks like BTC is getting stacked up in the hands of investors.

Community Reaction:  Dump incoming? Can Crypto Go Negative? No Pump Soon.

If you own/control multiple brokerage accounts, it is illegal to trade stocks with yourself to exaggerate liquidity or pump prices markets, but with anonymous crypto wallets you can do this all day.  Now, I understand why some love cryptocurrencies.

 

 

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Julie J

Julie is a renowned crypto journalist with a passion for uncovering the latest trends in blockchain and cryptocurrency. With over a decade of experience, she has become a trusted voice in the industry, providing insightful analysis and in-depth reporting on groundbreaking developments. Julie's work has been featured in leading publications, solidifying her reputation as a leading expert in the field.

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