Bitcoin values are nose-diving and it is time for the whales to make the kill. Binance has brought around 101,266 bitcoin and this happens at a time when the BTC values are scraping the bottom. The number one cryptocurrency has tanked in values by a huge margin and is recording the lowest values this year. The fall was the steepest on Saturday and went below $19000. The number two crypto coin also saw a massive crash in its market cap and its values slumped steeply.
Amidst this melee, the world’s biggest crypto exchange quietly bought nearly 100,000 BTC tokens. As per the bit info charts a Bitcoin wallet with number 44434365 was used for this transaction. This wallet is holding around 353,863 BTC tokens. The total values o the tokens is said to be 7,025,905,968 USD. The wallet has another 335 unspent tokens.
This particular wallet owns about 2% of the BTC which have been mined till now. The wallet has been in operation since 8th December 2017.
Bitcoin Liquidity Surges As A Consequence Of Binance Purchase
The Binance transaction has increased the liquidity of the token with the exchange and it is now up to 874 according to coinmarketcap’s data. Binance action is not new and in the past also it has bought BTC when its values were dipping. Back in January, Binance had brought $43,000 tokens to its wallet.
Bitcoin is going through its worst phase and the past week saw its values slumping by nearly 28% in one week.After the purchase there has been a slight increase in the values of Bitcoin (BTC) and when reports last came in Bitcoin price increased by almost 1.30% in last 24 hours and is trading at $19,518.07