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The whales mobilized almost half a million bitcoins in June

July 2, 2020

A new investigation, conducted using data from Whale-Alert and Bitcoin Block Bot in June 2020, showed that BTC continues to be the preferred cryptocurrency of crypto whales.

According to the numbers stacked from the warnings issued for high cryptocurrency transactions in the “crypto verse”, Bitcoin remains king not only in the overall market ranking, but also in terms of the number of transactions reported by the big players known as “Crypto Whales” or “Crypto Whales”.

The first data show that Bitcoin was mobilized 98 times from June 1st to June 30th, with more than 400,000 BTC being transferred between different anonymous addresses and some major exchanges like Binance, Huobi and Bittrex Exchange.

The whales mobilized almost half a million bitcoins in JuneThe whales mobilized almost half a million bitcoins in June

The data indicate that The whales generally made 334 transactions with 26 cryptographic assets on the market during the period examinedfor a global amount of just over USD 8,315 million in the 14.25 trillion cryptocurrencies transferred.

In second place is the stablecoin USDT, which has been the subject of 66 whale transactionsIt is worth noting that the vast majority were injected into major exchanges like Binance from the Tether Treasury, as Whale-Alert reported two days ago.

Third place is completed by the most important altcoin on the market, Ethereum -ETH-, with around 28 transactions, which were reported by the largest market participants. with the notable exception that the transfer of Plus Token for the significant sum of 789,533 ETH was reported on June 24th.

In addition, Ethereum had remarkable activity in late June when two major 406,587 ETH wallet transfers from unknown addresses were released by the cryptocurrency transaction analysis and monitoring company.

Cryptocurrencies that have also received a significant frequency of transfers between various unknown wallets Basic Attention Token (BAT) with 27 options and Ripples XRP token with 25 opportunities, which closes the top 5 of the best known in this series.

The rest of the assets with notable transactions included EOS, USDC and 0x with more than a dozen transfers, as well as some projects like Maker and Cosmos with 08 Tx each.

The rest have occasionally been mobilized less than four times.

Bitcoin whales mobilized almost half a million BTC

The analysis of the transaction data of the “Bitcoin Whales” shows that around 446,307 BTC have been transmitted by the most important influencers on the market. worth over $ 4,301 million in June alone.

The distribution of cryptocurrency transactions last month also reflects that Tether’s stablecoin -USDT- is the second currency to coincide with the highest amount of fiat money moved by whales. with a total of around $ 1,320 million.

Ethereum is also considered the most important old coin, which was mobilized with just over $ 811 million. although with the exception that a large part of these funds correspond to the Plus Token Ponzi system, as stated above.

Fourth and no less important is Ripple’s $ 730 million XRP token, which can be seen in 25 transactions.

It should be noted that the Ripple OTC wallet, with its usual transactions of approximately 1 million XRP tokens, which are transferred monthly by the company, as on June 9th, is the main responsible for these movements.

Only four other cryptocurrencies reflect transactions that exceed hundreds of millions of dollars: USDC, FTX Token, EOS and BAT. The remainder of the report is less than $ 50 million in total transfers reported by Whale-Alert in June.

Only four days in June to move without Bitcoin

Specific data on whale actions on Bitcoin show that activity has been almost constant throughout June and transfers have been made between wallets for amounts in excess of $ 10 million.

Reports show that BTC whales have had no activity on the market-leading cryptocurrency on only four specific dates in the past month: 07, 13, 20 and 28 June. For the rest of the month, at least 1 transaction was carried out by these actors.

More importantly, the dates reflect June 19 and 27 as the key dates in terms of movement, both in units and in millions of dollars.

On June 19, 06 transactions were registered for 91,356 BTC, an approximate value for that time of just over $ 850 million.

June 27 was the day the whales mobilized the largest amount of coins, with 2 transactions accounting for 106,857 BTC (+979 mmUSD).

In these two days alone, the Bitcoin whales mobilized 44.4% of the total BTC transmitted in June.

However, it should be noted that June 5th and 24th were the dates on which most Bitcoin whale transactions were carried out, with a total of 23 transfers between the two days, 23.5% of the total reported in June.

Bullish or Bearish?

A strange fact that can be observed from this data is the following Bitcoin’s price has occasionally behaved with the performance of “crypto whales”.

The price was pushed to extreme volatility on three occasions, which was undoubtedly a time of accumulation for these actors.

In the past, we have examined how whales react to Bitcoin and what possible effects their actions have on the performance of the most important asset in the market.

This time, last June, this behavior was highlighted again. Hence the importance of these actors to the crypto space and their attention to their activities on Bitcoin and the rest of the market.

From the previous graph, we can highlight two important aspects: BTC whales have more market impact if they occur more frequently in a day, beyond the astronomical sums they can generate in a single transaction like the one on June 27th.

For this reason, we find that periods like June 24th are pretty eloquent with 12 transactions, which they can randomly or non-randomly achieve with the price of Bitcoin.

On the other hand, and in line with the latest Glassnode report Whales continue to accumulate more Bitcoin and also diversify their universe within the crypto scene. It is obvious that with every bitcoin price volatility that continually coincides with the actions of these actors, new wallets with high amounts of BTC are generated by the market opportunity that arises after its “rise”.