Whale Alert: Unknown Wallet Buys $25.7M Worth Bitcoin From Gemini
- Whale transaction took place at 03:12:06 UTC on 25 May.
- Bitcoin is trading up 1.43% in the past 24h.
The short-lived relief rally of Bitcoin to the $30k level on Monday tried to pull bulls into the crypto market that was ruled by bears since early May. The dominant crypto continues to set new resistance and support levels triggering the bulls to become active. But BTC bulls have not yet established a strong stance.
Bitcoin climbed from Tuesday’s low of $28,786 USD and traded at $29,760 USD, at the time of writing. As per the data from CMC, the trading volume of the largest crypto surged by 7.4% to $28,583,520,820 USD in the last 24 hours.
Bitcoin Whales’ activities continue to sink during this “extreme fear” market sentiment around the largest crypto. According to glassnode, an on-chain crypto monitor, the number of whales initiating BTC transactions declined to a 21-month low of 1,743.
Recent BTC Whale Alert
The blockchain tracker, Whale Alert, detected a transaction of 852 Bitcoin (BTC) moving from Gemini to an anonymous wallet. Gemini is a New York-based centralized exchange (CEX). The crypto trading on Gemini abides by the regulations laid by the State’s finance regulator.
852 #BTC (25,787,033 USD) transferred from #Gemini to unknown wallethttps://t.co/gJiIj4Jwo9
— Whale Alert (@whale_alert) May 25, 2022
The catastrophic cryptos from Terra ecosystem, LUNA and stable coin UST, have turned into the no-hopers in the on-chain market. Several crypto exchanges such as Coinbase, OKX, and Huobi have suspended the trading of these coins.
Now Gemini is going to be the latest exchange on the list to suspend UST trading from 27 May around 9 PM UTC. The exchange closely monitors LUNA and allows users to trade it only in “limit-only mode” via its Active Trader.
Read more: https://thenewscrypto.com/whale-alert-unknown-wallet-buys-25-7m-worth-bitcoin-from-gemini/
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
