While Markets Move Sideways, Crypto Whale Sightings Increase

While cryptocurrency markets have been moving sideways during the last few weeks, digital currency proponents have been observing large bitcoin whale movements. Transactions with tens of thousands of BTC have been noticed on the move from one wallet to another. On Friday, one colossal BTC holder moved over 50,000 BTC ($410 million) and cycled the funds through multiple addresses.

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Bitcoin Whale Sightings

One of cryptocurrency’s favorite topics is the subject of whales and the large digital currency holders who can make prices swing with a single transaction. Depending on who you ask, the definition of a whale can vary. Some believe that a whale can hold 1,000 BTC or more to make it into the club. In February, the number of addresses that had 1,000 to 10,000 BTC ($7.5-75.1 million) was approximately 1,709. Since then, the number of these types of whales increased by 18.6% as there…