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Bitcoin and Ethereum Whales consolidate their positions in the cryptocurrency market with multi-million dollar trading

By on August 11, 2021 0

Bitcoin whales – individuals with large amounts of cryptocurrency with the power to vary its prices – have been busy trading millions of dollars for the past several hours. On August 11, Bitcoin – the world’s largest and oldest cryptocurrency – opened at around Rs. 34.46 lakhs, up 0.27% from its previous close of around Rs. 34.37 lakhs. There has been a significant increase in huge Bitcoin transactions over the past two days, as the Whale Alert tracker also shared. The “most advanced blockchain tracker,” as Whale Alert calls itself, has shared countless transactions worth millions of US dollars on Twitter.

August 11 Whale alert tweeted: “1,589 #BTC ($ 72,227,792) transferred from Coinbase to Binance.”

In another tweet, the blockchain tracker said: “750 #BTC (34,374,428 USD) transferred from unknown wallet to CryptoCom.

Around the same time, another huge Whale Alert transaction was reported worth 4,000 ETH ($ 12,765,115 / approx Rs 95 crore) transferred from OKEx to an unknown wallet.

At 5:43 am IST today, Whale Alert posted a tweet reporting a huge transfer of “38,918 #ETH ($ 121,966,542) from one unknown wallet to another unknown wallet.”

Another 2,000 BTC ($ 90,717,779 / approx. Rs. 675 crore) has been transferred from Xapo to Binance, tracker Whale Alert reported at 4:17 am IST on August 11.

Here are a few more tweets about massive cryptocurrency transfers:

Bitcoin and Ethereum, after the slow months of June and July, showed signs of recovery in August. The price of Bitcoin on August 11 of around Rs. 34.46 lakhs is its highest since May 17, when the digital token was valued at $ 43,541 (around Rs. 32.65 lakhs). Not to forget, on July 20, Bitcoin hit its lowest level in the past two months when it was priced at $ 29,793 (around Rs. 22.34 lakhs). To learn more about how some of these cryptocurrencies have performed over the past few months, click here.

Ethereum, on the other hand, opened at around Rs 2.41 lakhs, up 2.55% on August 11 from its previous close of around Rs. 2.35 lakhs. Click here to follow Ethereum’s live prices.

Interestingly, Ethereum’s prices on August 11 are the highest since May 18 when it was valued at $ 3,377 (around Rs. 2.53 lakhs). Even though Ethereum has yet to break the May 18 record, the cryptocurrency has made a significant recovery after falling to $ 1,786 (around Rs. 1.33 lakhs) on July 20.