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Bitcoin News: Almost $1 billion worth of BTC disappears after Coinbase transfer –

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Movements in the crypto market are commonplace and even large sums are frequently transferred from one crypto wallet to another. Although the owners and reasons for large transactions are not always known, they still attract attention today, especially when large sums are sent. This happened tonight, for example, after almost 20,000 in two transactions. Bitcoin (BTC) Approximately $1 billion worth was transferred from cryptocurrency exchange Coinbase to two unknown addresses. What was unusual about this was that both addresses were completely new and were being used for the first time.

Significant BTC transfers in a very short time

Two large transactions from crypto exchange Coinbase to two unknown crypto wallets were first announced by X account Whale Alert (@wahle_alert). This account regularly reviews crypto transactions and makes announcements when large transfers are made. This time, it initially found a transaction of 9,322 BTC (approximately $485.248 million), and a second transaction of 9,162 BTC (approximately $476.9 million) was made shortly thereafter. A total of 19,484.69 Bitcoins, currently worth $962.15 million, were withdrawn from Coinbase.

For this purpose, two new crypto addresses that have never made crypto transactions before were created. This may indicate that users of these Bitcoin addresses are extremely cautious and do not want to use already known wallets that could be compromised for such large transactions.

At the same time, the crypto community seems to see these large transactions as a sign that large crypto investors (often referred to as β€œcrypto whales”) are excited about an upcoming boom in cryptocurrencies. bitcoin course To go outside. If cryptocurrencies are transferred to a crypto exchange, they need to be sold frequently. However, if they are being sent from a crypto platform like Coinbase, this could indicate a longer-term holding position.

Bitcoin price continues to rise

Despite (or perhaps because of) the massive outflow of Bitcoin from Coinbase, the Bitcoin price has continued to rise. BTC token has gained at least 1.04% in the last 24 hours and is currently at the time of publishing this article. CoinGecko It traded at $52,383.96. Bitcoin looks even more bullish when you look at the past week (see image below). Here, the BTC token managed to record a 9.28% increase in value and even broke the $52,000 barrier for the first time since December 2021.

Bitcoin (BTC) price of the last 7 days (Source: CoinMarketCap)

It turns out this way Bitcoin prediction continues to show bullish signs: Tradable since January 10 Bitcoin ETFs It may continue to receive more entries into the US. This is what Bloomberg said recently in an articleIt was announced that BlackRock, the world's largest asset manager, received over $2.5 billion in inflows into its Bitcoin spot ETF within a week. This is likely to have a lasting positive impact on the crypto market and will drive the growth of not only Bitcoin but many altcoins as well.

Added to this is the fact that the Bitcoin halving is coming soon. This will happen automatically next April, allowing Bitcoin miners to receive only 3,125 BTC per block as reward instead of the current 6.25 BTC per block. Historical data shows that this halving has always triggered a bull market in the past; Therefore, many traders, investors and crypto miners are currently preparing for this event. Bitcoin mining in particular is gaining pretty strong traction right now, so cloud mining Providers like Bitcoin Minetrix are currently able to accept large numbers of new investors into their ecosystem.

Cloud mining for small investors: Bitcoin Minetrix offers Bitcoin mining

Bitcoin continues to use the Proof of Work (PoW) algorithm, so Bitcoin mining is an important part of the BTC ecosystem. However, Bitcoin miners usually need a lot of space, expensive hardware, a lot of electricity, as well as extensive technical knowledge. These factors make cryptocurrency novices and small investors generally do not participate in Bitcoin mining because it is too expensive and cumbersome. Exactly this niche now Bitcoin Minetrix ($BTCMTX) Fill in as the company uses cloud mining Blockchain technologies combined.

Bitcoin Minetrix Control Panel

Although the presale of the $BTCMTX token is still ongoing, the official staking and mining dashboard will be activated soon. Investors can already use the staking pool and receive initial returns on their investment in Bitcoin Minetrix, but Bitcoin mining can also begin as soon as the launch takes place.

To this end, purchased $BTCMTX tokens are then used through the stake-to-mine algorithm to receive mining credits based on the number of your own Bitcoin Minetrix tokens. These are burned to rent mining hash power and thus receive BTC rewards. All of this works through particularly secure smart contracts that are based on the Ethereum blockchain and therefore work transparently and intuitively. So who is it now? Buy Bitcoin Minetrix Just want to pay the low price of $0.0135 and take advantage of the project before the pre-sale is officially completed.

Last update date: February 19, 2024

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