U.Today – On-chain data has resulted in a flurry of large transfers within the past 24 hours. Among them, a large transfer of 999 BTC, equivalent to nearly $106,048,784, was discovered. This transaction was characterized by a stash of BTC being moved to a newly created wallet, suggesting the emergence of a new Bitcoin whale.
According to Whale Alert, “999 BTC worth $106,048,784 was transferred from an unknown wallet to a new unknown wallet.” The transaction is part of a recent uptick in large-scale Bitcoin transfers seen over the past 24 hours, as Bitcoin soars to new all-time highs.
Whale Alert has reported several Bitcoin transactions in the past 24 hours, the most recent at the time of writing being a transaction of 1000 BTC each between an unknown wallet and the subsequent Kraken cryptocurrency exchange. The two deals were valued at approximately $107 million.
A recent analysis by SpotOnchain appears to shed light on the surge in BTC transactions seen within the past 24 hours as Bitcoin's rally hit an all-time high.
According to SpotOnchain, the two institutions moved a total of 23,664 BTC, worth $2.51 billion, after Bitcoin reached a new ATH of approximately $108,000. However, this was done in installments.
SpotOnchain provides an overview of these transfers. Mt. Gox transferred 1,620 BTC worth $172.5 million in the last few hours. This includes 1,320 BTC to internal wallets and B2C2 groups. Since November 1st, Mt. Gox has transferred 7,500 BTC worth approximately $650 million to B2C2, presumably to pay creditors. Mt. Gox currently holds 37,404 BTC worth $4.02 billion.
Bitcoin mining company Marathon Digital (NASDAQ:) also traded 22,044 BTC, worth $2.34 billion, in the last few hours. These funds will be distributed to 40 new unverified wallets and remain there. According to SpotOnchain, Marathon's current holdings are 14,364 BTC, worth $1.54 billion.
Bitcoin reaches new ATH
Bitcoin hit new highs as investors expected Federal Reserve interest rates to fall later this week.
The price of the largest cryptocurrency by market capitalization rose 2.59% to $106,564 at the time of writing, according to CoinMarketCap. During Monday's trading session, it reached a new high of $107,857.
Investors expect the Fed to cut interest rates this week at its two-day policy meeting, which ends on Wednesday.
This article was originally published on U.Today
