Whales transfer 800 BTC from Binance to Gemini.
The activities of whales have surged in recent times.
The two major cryptocurrencies that whales target are BTC and ETH.
Since the beginning of the crypto industry, Bitcoin has never left its position to any other cryptocurrencies. The impact that BTC has created in this crypto world is irreplaceable because of its structure and performance. Though the entire world knows that cryptocurrencies are volatile, Bitcoin made traders believe that investing in digital-currencies will give hands in the future. Significantly, that is how the crypto space has evolved within a decade.
Considerably, Whales are anonymous traders who don’t show their identity during transactions. The activities of whales have surged in the past few years which is a sign of storing the digital currencies for future use. Whale Alert, is a blockchain monitoring system that posts interesting transactions as they happen to its Twitter account. The platform shares the recent transaction of whales moving 800 BTC from Binance to Gemini.
Transaction Between Two Major Exchanges
There have been whale transactions in history where thousands of BTCs were moved from major exchanges to unknown wallets. As of now, the whale has transferred 800 BTC from Binance to Gemini. Both the exchanges are major crypto trading platforms that allow users to buy, sell, and trade cryptocurrencies.
However, Bitcoin and Ethereum are the two major tokens that traders usually focus on as the market capitalization is high. The market also has other popular tokens like LTC, XRP, SHIB, DOGE, SOL, and DOT. While these crypto-assets have also been transferred anonymously and stored in unknown wallets.
Furthermore, the current trading price of BTC is $31,117 with a market capitalization of $592,931,475,713. Moreover, bitcoin has surged to 4.5% in the past week and dipped to 1.24% in the last 24-hours. Though the market is in dip, users expect that BTC will again uptrend reaching its ATH in the coming future if it breaks the next resistance level.