Bitcoin impresses: BTC whale moves 57,577 BTC ($415 million!) for just five dollars

There’s no bank coming: A Bitcoin whale has just transferred 57,577 BTC worth around 415 million dollars (!) from an external wallet to Bittrex. The total fee for the transfer was a mere $5. There has been an upward trend in large Bitcoin transfers today, fueling rumours in the crypto sphere. Whale Alert reports that BTC worth about $313 million was withdrawn from Bittrex.

 

However, another massive transfer of BTC has just been registered on-chain – again deposited with Bittrex. For example, a whale has removed 57,577 BTC ($415 million) from an unknown wallet and deposited it with Bittrex.

The transfer was strange for several reasons. Interestingly, the transaction came from a total of 19 Bitcoin addresses – each with a different amount of BTC. They all ended up in this recipient address, which now contains 57,577 BTC.

 

The address with about 54 recorded transactions seems to be active, but was created recently. The first recorded transaction was on November 27, 2019 and is believed to belong to Bittrex. Whale Alert marks the address as one of Bittrex’s, but the matter is not so clear. The on-chain analyser initially claimed it was an “unknown wallet”, but corrected it.

The deposit is particularly strange in view of the fact that just $313 million BTC has been withdrawn from Bittrex. Some of the money the whale withdrew from Bittrex this morning was returned to Bittrex from this address.

 

This may indicate that these two massive transfers may be related to Bittrex itself – or someone is simply playing games on the blockchain to start the bots.

Although a $5 dollar fee for a $415 million wire transfer for any standard is impressive, it fades compared to a transaction last week: a user moved a proud 46,000 BTC ($337M) for a fee of just $0.40. The Bittrex bots are not as expensive as the Bittrex bots.