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Half a billion Bitcoins purchased in a single day: here is the monster that made it from U.Today
U.Today – On-chain data aggregator IntoTheBlock reported that while the cryptocurrency market has been hit by massive FUD, the biggest whales continue to hoard the world’s flagship digital currency no matter what.
This happened as other large whales were dumping large amounts of BTC.
Biggest Whales Raise Half a Billion in Bitcoin
According to a recent statement from IntoTheBlock, the number of Bitcoin’s largest wallets has reached its highest peak since May this year. These wallets in total hold 0.1% of the total Bitcoin supply. On Monday, they accumulated another 7,130 BTC, worth $436 million.
This isn’t the only recent large Bitcoin purchase made. As reported by Akrham, the German government continues to sell BTC. Today, this entity transferred 400 Bitcoins to major cryptocurrency trading platforms Coinbase (NASDAQ:) and Kraken. This amount of BTC is valued at approximately $24.34 million.
However, the first transfer to exchanges occurred last week, when the German government sent an impressive sum of 1,700 BTC to Coinbase, Bitstamp, and Kraken.
Bitcoin collapses below $60,000
On Monday, the world’s leading digital currency stunned the market when it suddenly took a sharp dive, plunging from $62,680 to $59,220. This was the peak of the massive outflows experienced by Bitcoin over the past week. According to a recent report from CoinShares, as much as $630 million has been withdrawn from BTC.
Today, Bitcoin successfully attempted to recoup some of its losses and recovered up to $61,152, which at the time of writing is still in the hands of another owner.