The whale moves frequently, this new block actually holds 900,000 bitcoins, which is equivalent to Satoshi's bitcoin holdings

Over the past day, bitcoin whale activity has intensified, with amazingly large transactions on the blockchain. But a particular block stands out.

wal-1632159_1280

Image source: Pixabay

One block contains 5% of almost all Bitcoin

At block height 606,641, the transactions contained in this 10-minute window totaled 903,592.118 Bitcoins. This amount is equivalent to nearly 5% of the entire Bitcoin supply, and it is also equivalent to Satoshi's Bitcoin stash. According to estimates, the blocks mined by Satoshi Nakamoto contain about 900,000 to 1 million BTC.

WX20191206-114035 @ 2x

The transaction fee obtained by the block mined by Antpool is only 0.25 BTC, and 3,026 transactions are processed, which shows that Bitcoin can complete such a huge amount of capital transfer with extremely low transaction cost.

Earlier, the whale transfer monitoring robot noticed that 57577 BTC was transferred in one transaction, and the UTXO transaction was also huge.

55877 BTC transferred from one unknown wallet to another unknown wallet: https://t.co/l12Pw8efKi — Whale Alert (@whale_alert) December 4, 2019

However, the neighboring blocks of blocks 606,641 are also impressive. Its previous block 606,640 moved 230,343 BTC at a fee of 0.24 BTC, while the previous block 606,639 moved 66,643 BTC at a total cost of 0.4 BTC.

These large Bitcoin transfers could be exchange switching cold wallets

One of the most likely explanations is the transfer of funds between large cold wallets. But until the exchange officially acknowledges this fact, these large transfers remain doubtful. The bitcoin exchange that has recently received a large amount of capital inflow is Huobi, which recorded capital inflows as of December 4. Binance also transferred its cold wallet on Tuesday.

This block of height 606,641 could have been attributed to several wallets because known wallets or addresses have not been analyzed when mining these blocks. Whale Alert, a major transfer monitoring agency, commented that some whale transactions today behave like exchanges.

Large-scale BTC flows could be large-scale market selling or another way to affect the price of Bitcoin.

On the same day as Bitcoin's large-scale transfer, the price of Bitcoin also fluctuated greatly, with a rapid rebound from below $ 7,200 to more than $ 7,500. However, low trading volumes and short-term bearish outlook still make price increases difficult to sustain. At the time of the large transfer, Bitcoin was trading at around $ 7,475. Around that time, with the opening of the US market, the day's trading volume climbed to more than $ 19 billion.

In addition, whale account monitoring found that Upbit's stolen wallet was being systematically emptied, of which 10,000 ETH and 1,000 ETH transactions were transferred to the new address.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Blockchain

Interpreting FTX's preliminary restructuring plan Cash compensation is adopted, excluding FTT holders.

At present, the restructuring plan of FTX is still in its early stages. The team will submit a revised plan and discl...

Blockchain

New gameplay? A rubbish currency exchange where everyone can use the currency

BlockBeats learned that the Shitcoin.market was officially launched on August 14. This is a decentralized trading pla...

Opinion

Amazon's participation and the skyrocketing value of AI company Anthropic become FTX's biggest hope of repaying the debt?

FTX previously invested $500 million as a lead investor in Anthropic's Series B financing round, so the expected appr...

Blockchain

Unveiling SBF's Defense Draft of up to 250 Pages I Did What I Believe Was Right

SBF traced his development journey, from his childhood in Palo Alto to the top floor apartment he purchased near the ...

Blockchain

The exchange is frequently stolen, and where is the security of digital currency going?

In the food chain of digital currency, the exchange has always stood at the top. But if you want to wear a crown, you...

Blockchain

Coinbase publicly acknowledges that 3,420 user information is threatened by registration vulnerability

According to foreign media, Coinbase Exchange acknowledged in its latest blog post that a vulnerability in their syst...