There has been a sudden surge in high-net-worth crypto investors moving hundreds of millions of dollars worth of Bitcoin (BTC), Ethereum (ETH), and other altcoins, according to data from Whale Alert, a whale-surveying platform.
Bitcoin transactions on Whale Alert’s radar include significant transfers, such as 4,535 BTC worth $198,031,859 and 829 BTC worth $35,918,171. Ethereum, Solana, Dogecoin, and XRP are also seeing large transfers, with 150,000 SOL worth $10,187,490 and 64,746,017 DOGE worth $6,127,419 being notable examples.
At present, Bitcoin is trading at $43,865, Ethereum at $2,354, DOGE at $0.098, SOL at $72.87, and XRP at $0.664.
This surge in major cryptocurrency transfers comes amidst significant volatility in the overall market, with Bitcoin hitting an all-time high of over $63,000 in April 2021 and experiencing a subsequent sharp decline.
Historically, Bitcoin and Ethereum have been the top two cryptocurrencies by market cap, attracting significant attention from institutional and retail investors alike. As for altcoins, they have also gained popularity in recent years, with Solana, Dogecoin, and XRP being among the most discussed and widely traded assets in the market.
It is important to note that cryptocurrency investments and transfers come with high risk, and investors should conduct thorough due diligence before engaging in such activities. The Daily Hodl does not provide investment advice and participation in cryptocurrency trading is at an individual’s own responsibility.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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