Crypto Whale Spotted Buying 30,000 Coins, Adding to Riches of 144,000 Coins Across 18 Wallets | Possibility to buy at 9% less?

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Urian B., Tech Times July 19, 2021, 04:07

(Photo: Screenshot from Pxhere official website) Crypto Whale spotted buying 30,000 coins adding to 144,000 coin wealth across 18 wallets | Possibility to buy at 9% less?

The crypto whale has been spotted buying 30,000 Bitcoins, which adds to the total wealth of the whale’s wallet of $ 144,000 BTC. The coins were distributed in 18 different wallets. Is it a good time to buy?

Crypto Whale Spotted Buying Massive Amounts of Bitcoin

According to CoinGape, $ BTC has traded under pressure over the past week and is now sort of consolidating around the leveling of $ 31,500. With the price of $ BTC down 9% on the weekly charts, the whales see this as an opportunity for them to add even more.

BitInfoCharts shows that a Bitcoin mega whale was seen buying $ 30,000 BTC during the last weekend between July 16, 2021 and July 18, 2021. The same entity controls exactly 144,000 Bitcoins spread across 18 wallets different.

$ 8,000 BTC stretched across 18 wallets

Each of them has been holding exactly $ 8,000 BTC since December 2018. In the past three days, the exact same whale has bought $ 29,880 BTC for US $ 950 million. While there have been a lot of moves to buy $ HEX driving the price up, this has been stretched over time, but buying massive $ BTC is a different story.

This is great news because the mega whale hasn’t made a single purchase or even sold any of its BTC $ until recently. Originally purchased in December 2018 at $ 3,970 with a massive net investment of US $ 31 million with a holding value now standing at $ 252 million.

BitInfoCharts data revealed

BitInfoCharts data shows addresses ranked 89-106, all holding 8,000 Bitcoin prior to its recent purchase. The cumulative Bitcoin holdings of all eight addresses with $ 144,000 BTC are currently worth $ 4.55 billion. In other news, a huge amount of Ethereum has been stolen from THORchain.

The recent purchase shows that the big players in the market are racking up more Bitcoin thanks to the recent price correction. While opinions regarding Bitcoin still remain divided, CoinGape reports that retailer interest in Bitcoin is in fact able to remain healthy at the current stage of cryptocurrency.

Also Read: Intel Seeks To Buy Supplier AMD GlobalFoundries For $ 30 Billion Opening Supplier Options Outside TSMC

Bitcoin cryptocurrency analysts

Popular analysts give different opinions regarding the cryptocurrency. Market analyst Will Woo says the $ BTC market may have gotten massive institutional support with a number of financial giants and wealthy traders all flocking to add $ BTC to their own portfolios.

It is the retail traders, however, who run the market. Willy Woo pointed out that retail traders will continue to buy much more Bitcoin stock in the ongoing decline. In the last $ BTC mining difficulty adjustment that happened last Saturday July 17, 2021, the price of Bitcoin fell another 5% to its new low since January 2020. The hash rate is moving again northward above 100m TH / s.

Related article: Apple Breaks Record As First U.S. Public Company To Reach $ 2.5 Trillion In Market Cap

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Written by Urian B.

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