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Bitcoin [BTC] whales become proactive as king coin prepares to breach $9,000

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Source: Pixabay


The cryptocurrency market had a collective market cap of $270.8 billion on May 28, with Bitcoin enjoying a 56.9% dominance in the market. After a euphoric surge, the king coin breached the $150 billion market cap, securing its position above $8,600, at press time. BTC recorded a massive trading volume of $26.54 billion over the last 24 hours. Many prominent analysts in the field have, however, predicted a pullback following the bullish movements.

With BTC approaching $9,000, whales have been more pro-active in transacting the cryptocurrency. In three separate transactions listed by Whale Alert, Bitcoin whales have moved significant volumes whose wallet origins are unknown.

Two alerts notified by the cryptocurrency transaction tracking site were related. The first alert reported the movement of 3,828 BTCs in two sets [500 BTC and 3,327.97471732 BTC] from multiple unknown wallets to 36guys2Pe1z4vtaVA6B85SYEi7ZxtcTQs3. The time stamp of the transaction was 28 May 2019 02:47:15 UTC and had a hash 36d3ab0bb3056691551893f5eaee75bd9d89a0c2.

In the second notification, the previous recipient, 36guys2Pe1z4vtaVA6B85SYEi7ZxtcTQs3, sent 3,328 BTC to wallet address 3BqnQ9Vps9bCjAT5aDsR4eadSUng3QsFHn. Similar to the aforementioned transaction, this one too was settled in two drops, 500 BTC and 3,327.97471732 BTC. The hash of the transaction was f084ce9b71dd1d43457bf73bdc7f38e830bc5b4c26d57ae306eaec371df57829, with a time stamp of 28 May 2019 02:47:15 UTC.

A few minutes later, another alert was sent out by Whale Alert, which reported the movement of 4,328 BTCs from multiple unknown network addresses to 3CNZ3vaJqgrqmX8ktEK7ALd9dki5Fb2JPm. The transaction took place at 02:46:59 UTC on 28 May 2019 and its hash was c29a93d567ccb7e21578332dc3c2aca89e7d0f56fb9bddc1c173d7a0b2407972.


However, according to the tree below, it was confirmed that the third transaction was actually the parent transaction of the previous two.

Source: Blockchain.info





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Chayanika holds a Journalism degree and is currently working with AMBCrypto. She is inquisitive about everything that the Blockchain Technology has to offer.

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