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Bitcoin whale moves the incredible $ 1 billion in Bitcoin, which is about 0.7 percent of all Bitcoin mined to date.
Bitcoin and altcoins are rising
Bitcoin continues to rise in price and has now made it through key resistances. During this price hike, the popular bot Whale alert knocked out when a $ 1 billion transaction was made in BTC.
The past few hours have been just crazy for the crypto market. Before the massive surge that drove the price up to $ 8,850 in just a few hours, Bitcoin was trading on Bitstamp for around $ 8,100, an increase of 7.5 percent.
In addition, a particular user has a massive one transaction sighted in the amount of 124,946,622 Bitcoin, which corresponds to around 0.7 percent of all Bitcoin mined so far. If you convert this number into fiat at an exchange rate of USD 8,700 per Bitcoin, this corresponds to a value of 1.08 Bitcoin. The user also states that it comes from a Bitfinex cold storage address. However, the recipient is unknown.
Incredibly, this transaction was transferred for 0.00964 BTC, which is approximately $ 84 at the time. Once again, this shows that Bitcoin is number one as a full e-cash system, since no central authority had to be involved in any way.
With the rise of Bitcoin, the rest of the market has gone up. Most altcoins have also written green numbers. Probably the biggest winner is Bitcoin SV (BSV), which saw a 100 percent increase, hitting a new all-time high of $ 413.
Other coins were EOS with 20 percent and made it over $ 4 for the first time since September 2019. Litecoin 15 percent with a value of $ 60, which LTC has not reached since November.
Bitcoin Cash and many privacy coins have also risen well. Overall, total market capitalization has also risen by almost 10 percent, as seen in Fiat from $ 216 billion to $ 237 billion.
It is unclear whether this transaction was the trigger for this increase.
Image source: Pixabay
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