Bitcoin Whale Moves 3,284 BTC Off Coinbase – Bitcoin (BTC/USD)
What happened: one bitcoin BTC/USD Whales just sent $64,972,841 worth of bitcoin from Coinbase.
The BTC address associated with this transaction has been identified as: 1HxNTUuJiuMnegCbV33zLA6EX9AHnqK3mr,
why it matters: Bitcoin “whales” (investors who own $10 million or more in BTC) typically send cryptocurrencies off exchanges when they plan to hold their investments for an extended period of time. Depositing large amounts of money on an exchange presents an additional risk of theft, as exchange wallets are the most sought-after targets for cryptocurrency hackers.
The best way to secure bitcoin is to keep it in a hardware wallet, which cannot be done through holding a digital asset on an exchange. hardware wallet Storing one’s private keys in an offline device, making it impossible to hack money via the Internet.
According to glassnodeOnly 12.48% of the total supply remains liquid across all centralized exchanges.
Removing BTC from exchanges reduces potential sell side pressure, allowing the price of bitcoin to rise more easily.
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Price Action: Bitcoin is up 0% in the last 24 hours.
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Public blockchain data. received from whale alert twitter,
This article was produced by Benzinga’s Automated Content Engine and reviewed by an editor.