After the price of Bitcoin reached a key support level of $50,000 (approximately 37.72 crore), the third largest Bitcoin holder on record has just added 2,700 Bitcoin to their kittens-worth 137 million U.S. dollars ( Approximately Rs 1,033.63 crore). Bitcoin whale accounts have been actively sold in the past week, especially since Saturday’s sharp drop, and have played a role in pushing the price of the most popular cryptocurrency to the $50,000 (approximately 37.72 crore) mark. play a key role in. However, bucking the trend, on-chain monitoring resources indicated that this particular whale transaction may be one of the largest recent transactions.

People on BitInfoCharts first discovered and reported by CoinTelegraph that this whale has been buying bitcoins regularly for the past month, but the most recent acquisition of 2,700 bitcoins happened to be the whale’s largest. According to VentureFounders, “This is the largest number of bitcoins officially held in the wallet: BTC 118,017. The whale invested a total of US$2.5 billion (approximately Rs 18,863.29 crore) to purchase at an average cost of US$21,160 (approximately Rs.) Bitcoin. 1.596 million) per BTC.”

Santiment as an on-chain data provider explain, By Monday, Bitcoin rebounded to the level of about 50,100 US dollars (about 3.778 million rupees). Prior to this, “whale traders played a perfect role. From the beginning of the -off period to 43,000 US dollars (about 3.243 million rupees) holding 100 to 10,000 USD BTC addresses have accumulated 67k, after dumping the same amount of Bitcoin before the price drops, more BTC can be obtained.”

See also  The first food in space: apple butter and beef toothpaste tubes

At the time of publication, the current value of Bitcoin on the Indian exchange CoinSwitch Kuber is US$54,024 (approximately Rs 4.074 million), while CoinMarketCap’s valuation of the cryptocurrency is US$50,856 (approximately Rs 3.835 million). It rose 4.9% in an hour.

Recently, the Ethereum Whale (actually one of the largest whales) swooped to add 28 billion Shiba Inu tokens to the portfolio now holding more than 1.2 trillion tokens, valued at more than 1.1 million U.S. dollars (approximately 881 crore). The whale wallet called “Gimli” buying SHIB tokens in June and has since accumulated an amount worth 56 million U.S. dollars (approximately Rs 422.4 crore).

The value of Shiba Inu has fallen by more than 45% in the past 30 days, but whales like “Gimli” have been buying on dips to help Dogecoin competitors soar in mainstream popularity.


Interested in cryptocurrency? We discussed all about encryption on the TechnologyShout podcast Orbital with WazirX CEO Nischal Shetty and Weekend Investing founder Alok Jain. Orbital can be used on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get podcasts.