Tomiwabold Olajide
Giant BTC Whale Hits $217 Million Bitcoin Jackpot as Prices Surge
Continue reading U.TODAY
Google News
Bitcoin, the pioneer cryptocurrency, continues to attract attention and captivate investors worldwide with its unstoppable rise in value. In a recent turn of events, the cryptocurrency market witnessed an extraordinary performance as a massive Bitcoin whale, owning a whopping 8,500 BTC, hit a million-dollar jackpot as Bitcoin price rose.
Lookonchain, an on-chain analytics platform, reports on a whale that hit a massive $217 million Bitcoin jackpot as prices soared.
The whale began accumulating BTC on August 24, 2023, withdrawing 8,500 BTC worth $279 million from Binance at an average price of $32,854. Withdrawals from cryptocurrency exchanges indicate an intent to buy, but deposits to cryptocurrency exchanges may signal an intent to sell.
According to the information provided, the whale owned 8,500 BTC as of August 24, 2023. As the price of Bitcoin rose, whales deposited or sold 4,300 BTC worth $183 million on Binance at an average price of $43,534. A few hours ago, the whale once again deposited or sold 100 BTC worth $7.22 million on Binance to take profits.
The whale currently owns 4,300 BTC, worth $313 million at current rates, and has a total profit of $217 million.
With a huge supply of 4,300 BTC still remaining, questions remain about the whale's next move. Will they cash out and take their winnings, or will they hold on in anticipation of even higher valuations? Only time can tell.
Bitcoin hits new all-time highs above $73,000
Bitcoin has reached a new all-time high (ATH) of $73,709 (on Coinbase) against the US dollar, initiating price discovery and pushing investor sentiment closer to euphoria.
Numerous data points to a striking similarity to previous ATH breakouts, with a transfer of wealth from old HODLers to new investors and speculators already taking place.
At press time, Bitcoin was changing hands at $73,254, up 1.74% in the last 24 hours. Bitcoin reclaimed $73,000 after the bulls' first attempt to reach that level was thwarted by the bears.
Bitcoin slipped nearly 6% shortly after hitting a high of $73,027 in Tuesday's trading session before bulls regained control.
About the author
Tomiwabold Olajide
Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducts comprehensive price analysis, and shares predictions on estimated market trends. Tomiwabold graduated from the University of Lagos.
Learn Crypto Trading, Yield Farms, Income strategies and more at CrytoAnswers
https://nov.link/cryptoanswers
Comments are closed.