According to a recent tweet from the Whale Alert team, over the past three hours, an anonymous Bitcoin whale has moved a staggering 13,003 BTC to Coinbase, the largest cryptocurrency trading hub in the United States.
The transaction payment has amounted to 0.00011508 BTC – a “whopping” $ 3.6 in fiat – a fee that no bank can offer for a money transfer, not to mention the speed with which no bank can compete.
Chinese crypto journalist Colin Wu has shared charts from CryptoQuant showing that this transfer was done by Coinbase internally.
As previously reported by Crypto Report, 14,550 BTC were made by whales of cryptocurrency to Binance this week and 4,518,409 BTC of that amount was deposited in just one hour. The CEO of analytics provider CryptoQuant believes that the selling pressure on the largest cryptocurrency is now strong.
The flagship cryptocurrency is changing hands at $ 31,515 at the time of writing. Earlier this week, Bitcoin slipped from the $ 32,500 area to $ 31,175.
On Friday, the price of BTC spiked slightly after it was announced that Bank of America approved Bitcoin futures trading for some of its clients and that it would also allegedly trade BTC futures issued by CME Group.
The news was spread by CoinDesk, using anonymous sources familiar with the matter. However, the BoA did not make any official confirmation at the time.