Bitcoin Whale Account Remains Active by Moving 6,713 BTC to Xapo

The latest data published by crypto analytics and blockchain tracking platform Whale Alert showed that a Bitcoin wallet moved 6,713 BTC to Xapo. 

According to Whale Alert, the transaction was executed on 29 June at 1:17 UTC. The total value of the transfer stands at around $230 million. 

The world's largest cryptocurrency is currently going through a bearish market as the overall sentiment has remained negative since 12 May 2021. Bitcoin is down by more than 40% in the last six weeks, the total number of active Bitcoin addresses reached the lowest level in 12 months. Despite jumping back above $36,000, Bitcoin is still seeing an extremely bearish sentiment on Twitter and the overall institutional inflows remains slow.

However, despite the latest dip in the overall Bitcoin network activity, Bitcoin whales remains active. In addition to the latest transfer of 6,713 BTC, a leading BTC wallet moved 750 coins worth over $25 million from Xapo to crypto exchange Coinbase. The transfer was executed on 28 June at 20:44 UTC.