Mysterious Whale Transfers 3,500 Bitcoins (BTC) Worth a Staggering $134 Million to Bitstamp Wallet

World's number 1 cryptocurrency Bitcoin (BTC) was trading below $40,000 as of March 7, 2022.

An unidentified and mysterious whale has transferred over 134 million worth of cryptocurrencies from Binance to a different wallet address in Bitstamp, the cryptocurrency exchange based in Luxembourg.

A whopping 3500 Bitcoins (BTC) have been transferred in the transaction that took place on Monday, March 7, 2022 at around 09:27:44 UTC and the over price of the Bitcoins stands at a staggering $134,073,786 USD.

The wallet addresses used for the transaction are -

  • bc1qn878vf8699p32y3ehq2wwaq876uu7yye5m5ahc (Binance exchange) and
  • 33SiY33rSLXAZQMayvjJVHR9ouc4n3tbyo (Bitstamp exchange)
India supports blockchain but not cryptocurrency
A view of Ducatus cafe, the first cashless cafe that accepts cryptocurrencies such as Bitcoin REUTERS

The reason for the massive transaction is not known. The massive transfer was spotted by Whale Alert, which shared the details of the crypto transaction on Twitter. "3,500 #BTC (134,073,786 USD) transferred from #Binance to #Bitstamp," the tweet shared by Whale Alert read .

Moreover, this is not the only massive transaction of BTCs that took place on March 7. In another huge transaction, another mysterious whale transferred 818 Bitcoins (BTC) worth $31,415,786 USD from an unknown wallet to Coinbase while more data on Whale Alert shows that 799 Bitcoins (BTC) worth a staggering $30,529,505 USD was transferred from multiple addresses to Xapo at around 07:18:43 UTC on the same day.

Another interesting data on Whale Alert, the account that highlights the movement of large cryptos, showed that a wallet address that remained dormant since 2013 has just been activated. The wallet address contains 407 #BTC. which at its current value was worth $15 million USD. The value of the cryptocurrency in the wallet since 2013, has surged to nearly 4,000% in eight years.

Bitcoin (BTC) current price

Bitcoin has been trading below $40,000 in the past few days after it surged to over $45,000 in the second week of February. At the time of publishing, Bitcoin (BTC) was trading at a price of $38,219.84, which is down by -0.04% in a 24-hour trading period with a market cap of $725,281,166,992, according to cryptocurrency exchange platform CoinMarketCap.

International Business Times (IBT) advices its readers, traders and new investors not to fall for any trading rumors and be well aware of the latest trends in the crypto market.

This article was first published on March 7, 2022