One of the largest bitcoin holders sold $ 1 billion worth of cryptocurrency in 2 days

The largest OTC bitcoin whale sold 46,000 BTC (worth $ 1 billion) in just 2 days — some members of the crypto community believe that such significant transactions may affect the value of the asset.

According to Bitinfocharts, on July 18, 500 BTC were sold during the first «notable» transaction, 2500 BTC each during the second and third, and 5000 BTC each during the fourth and fifth. The next day, July 19, two transactions were made with the sale of 10,000 BTC and 20,000 BTC. Currently, the bitcoin whale has 71,381 BTC on its balance sheet.

The activities of crypto whales in buying and selling digital assets often have a significant impact on the value of cryptocurrencies on the market. At present, it is not possible to name the exact reasons for such actions of a non-brokered holder.

As a reminder, at the end of June, the world’s largest OTC bitcoin whale bought 2554 BTC in its portfolio and owned 0.68% of the bitcoin market supply at the time of the purchase. Also, as it became known today, the value of the flagship cryptocurrency rose by more than 7% per day, bringing the entire crypto market to a capitalization of $ 1.11 trillion. According to CoinMarketCap, at 9:59 a.m. today, bitcoin was trading for $ 23,749, which is more than 7% more expensive than at the same time on July 19 (when BTC was trading for $ 21,747).