Whale Alert: 12,447 BTC Transferred, Amounts up to $500 Million

Whale Alert, the blockchain tracker, tweeted that there was an anonymous transfer of $500 million worth of Bitcoin earlier today.

The unknown whale made the transaction on Wednesday, August 25, 2021, at 08:36 UTC. Moreover, the said transfer recorded 12,476.595 BTC which amounted to a total of $594,679,400.

The transaction reveals that the whale used Binance. To note, Binance is a crypto exchange giant that lists most of the stable coins in the market today.

Bitcoin’s Bull Run Continues

The current bull run has gradually shifted the crypto market to greater heights for the past weeks. Since BTC reached the $50k mark, more traders have joined in. Honestly, huge investments like this are beneficial in increasing the value of Bitcoin. When this happens, hodlers and trades alike feel elated.

Going back to stable coins, Bitcoin, on the other hand, continues to flourish as it reached this mark for the first time again after three months. After the subtle dip in the market a few months ago, most traders are back to the game. For years, Bitcoin has retained its top spot in the crypto market and crypto exchanges. This shows not only how stable BTC is, but also how many prolific individuals invest in this crypto.

Furthermore, at the time of writing, BTC price is recovering fast at $47,000.