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Whale Alert Crypto User Moves 1.1B in Bitcoin

With Bitcoin’s price continuing to hold close to $13,000, one crypto wallet has moved more than $1 billion of the digital asset.

According to on-chain data, a Bitcoin (BTC) wallet holder moved more than 88,857 BTC — worth roughly $1.15 billion — for a fee of only 0.00027847 BTC, or $3.58 at time of publication. The coins were confirmed in block 654,364 on Oct. 26.

Whale Alert — Crypto User Moves $1.1B in Bitcoin

Data from analytics platform CrystalBlockchain appears to show that the user sent the coins from an address labeled as a Xapo Bitcoin wallet. Because Coinbase Custody acquired Xapo’s institutional business in 2019, it is possible that the $1.1 billion in Bitcoin originated from the U.S.-based exchange.

This transaction is the largest movement of any cryptocurrency by fiat value, with the Bitfinex exchange setting the previous record in April. It transferred 161,500 BTC — $1.1 billion at the time — for a fee of only $0.68.

Neither of these transactions were actually the largest amount of Bitcoin to ever be moved. That honor goes to a 550,000 BTC transaction made on November 16, 2011 by the Mt. Gox exchange. Worth $1.32 million at that time, that amount of Bitcoin could be liquidated for more than $7 billion today.

Source: FXPro