The entire crypto space is witnessing a massive downfall in the last two days, reflecting drastic price changes in all cryptocurrencies. To be specific, the price of Bitcoin (BTC) tumbled down, raising the risk level for all investors in the marketplace. On that note, BTC slopes down to 50% from its peak which results in the continuation of the crypto plunge.
As this is the current situation in the market, the world’s largest and leading crypto exchange Binance reveals an alert. As the whales usually transfer huge amounts of cryptocurrencies, an unknown wallet address transferred 1000 BTC to Binance wallet.
Thus, the exchange is now curious about the anonymous user and the unknown wallet address for transferring BTC worth $32,130,580 early today.
Binance received 1000 BTC
As the market is already buzzing about the crypto crash, the investors community are facing uncertain market conditions with extreme volatility at present. Moreover, the whale alert team tracks millions of transactions on all the platforms daily. It also ranks as the number one source of trust and transparency through blockchain technology. Thus, while looking at the transactions record on Binance, it found such a suspicious act.
As it’s not something new, the whale activities are always active in tracking the transactions of cryptocurrencies. In addition, the market crashed and prices are all on the red margins depicting huge loss for all investors in this period. Thus, to earn more profits while price spikes, whales used to transfer and store their assets in unknown wallets.
More so, whales have targeted Bitcoins as the price fall of BTC is the recent talk of the town. Besides, the bearish state of the current crypto market is a lucky opportunity for the whales to transfer and store the top cryptocurrencies.
Besides, the overall crypto market capitalization has dropped down to around $1.5 trillion in the last two days. In that case, the leading cryptocurrency Bitcoin (BTC) alone fell about 50%from its peak in just one day.
According to CoinMarketCap, the value of Bitcoin is standing at $31,675.50 continuously facing a bearish market performance. Additionally, the BTC graph is on the downtrend with 4.27% in the last 24 hours.