Whales are on the move amid the downturn in the cryptocurrency market.
Yesterday, a massive transaction was spotted by a large Bitcoin whale that transferred around 1,5076 Bitcoin worth up to $852 million.
According to WallAlert, a transaction was detected that caused a large amount of Bitcoin to be transferred from one unknown wallet to another.
It was signed at a bitcoin price of about $56.5 thousand.
This is the biggest deal I've ever heard of. On Monday, Binance saw the execution of a new transaction on 485 Bitcoin worth $27 million.
A new deal was added to the whale trades, which amounted to about $70 million in about 1,250 bitcoins.
Bitcoin now
Bitcoin is currently trading during those moments at $56.7 thousand, an increase of about 1.2%, while its market capitalization is around $1.07 trillion. According to Coinshare data, funds and institutions seem to be buying the current dips in the cryptocurrency market, specifically Bitcoin.
Grayscale is the largest digital asset management company, with over $52 billion in assets.
positive news
Joe Longo, chair of the Australian Securities and Investments Commission, or ASIC, said the rise in cryptocurrencies has been nothing short of extraordinary, and impossible to ignore.
Longo acknowledged a certain affinity for decentralized autonomous organizations, or DAOs, which he said present particular challenges to national regulators such as the Australian Securities and Investments Commission. Australian securities and investments make important policy decisions in the cryptocurrency space.
The fact that Australia's largest bank is already exploring the possibility of offering exposure to cryptocurrencies to its retail clients is evident. Yes, it is just a pilot project, but this means that we could be in the future where consumers and investors can use cryptocurrencies.
This means that cryptocurrencies and digital currencies (especially in Australia) are close to us. The general trend is clear: this debate is no longer on the fringes of the financial services industry.
The Commonwealth Bank's pursuit of exposure to the bitcoin market by offering bitcoin trading functionality to app users was an important step in understanding the bitcoin markets.
The ascent is coming
The market lags behind the bull market cycle by five to eight days.
If the trend continues, Bitcoin and the broader market could prepare for a breakout in the medium term.
market now
Ethereum is now trading at $4.29K, while Binance Coin is up about 2% at $590 levels.
Solana's price rose by 1% at levels of $214, and Cardano's stock fell by 5.3% to levels at $1.7.
Ripple is down less than 1 percent at $1.04 levels, while Polka Dot is up less than 1 percent at $39.3 levels.
Dogecoin, Avalanche and Sheba fell by 2%, 8% and 6% respectively to the levels of $0.218, $118 and $0.0003991, respectively.
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