Crypto

Bitcoin Block 634,133 Contains Three Whale-size Transactions

Following certain Twitter accounts can grant one unique insight into the cryptocurrency world. Three recent Bitcoin transactions worth millions of dollars have attracted plenty of attention, yet no one knows what is going on exactly.

When large sums of crypto funds are being moved around, everyone is perking up.

Three Whale Transactions in one Bitcoin Block

In this case, three Bitcoin transactions were identified in the same block. 

It is possible that all three transactions belong to the same sender, even though the balances are very different.

The biggest transaction is valued at $439 million at the time of transacting.

One possible explanation is how an exchange is moving funds between wallets.

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Another potential outcome is how a fund or trust is shifting its balances around a bit.

Regardless of the reasoning behind it, these transactions highlight the potential of blockchain technology.

Moving vast sums of money around is not an issue when using this technology.

While it may take some time to complete, it is still faster than all legacy banking systems in the world today.

Either way, the transactions are a bit of an anomaly when looking at the bigger picture.

Assuming the amount of BTC isn’t liquidated on exchanges, there shouldn’t be any issues in terms of Bitcoin’s price.

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

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