Bitcoin Owner Moves 5,000 BTC from Binance to Xapo

Bitcoin, the world’s largest cryptocurrency, gained nearly 6% in the last 24 hours and registered a high of $59,320 on 18 March. Bitcoin whales are moving the digital asset in large amounts as a BTC user moved 5,000 coins from crypto exchange Binance to digital wallet Xapo.

According to the data published by Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term tracking and analytics platform, Whale Alert, the total value of the transaction stands at around $280 million. The transfer was executed on March 17 at 4:31 UTC. The mentioned transaction was recorded on blockchair.com.

Bitcoin recorded an all-time high of $61,500 on 14 March driven by a surge in retail and institutional demand. The digital currency is now up more than 100% since the start of 2021. BTC touched a low of $3,800 in March 2020.

The institutional accumulation of Bitcoin has increased significantly in the last few months. Meitu, a Chinese technology firm, announced today that it has expanded its cryptocurrency portfolio with the purchase of $50 million worth of Bitcoin and Ethereum. The trading of the world's largest digital currency is booming in Asia as the total daily trading volume of BTC and other cryptocurrency assets crossed South Korea’s stock market earlier this week.

Anonymous Bitcoin Transactions

With the surge of BTC prices, unknown Bitcoin transactions have also increased. Due to the current Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term crisis of Bitcoin, anonymous whales are moving the market through large transfers. MicroStrategy, the world’s largest business intelligence firm, purchased nearly $1 billion worth of Bitcoin in February. The company now holds more than 90,000 BTC. The latest transfer from Binance to Xapo has increased the supply crisis of BTC at leading digital exchanges.

In a separate transaction, an unknown user moved 6,425 BTC worth more than $370 million on 17 March to an anonymous crypto wallet. “Despite recent volatility, Bitcoin supply is still drying up at astonishing rates,” crypto analytics firm, Glassnode mentioned in a tweet on 16 March. BTC currently has a market cap of $1.08 trillion.