Yesterday, March 4, 2020 we can say that crypto whales have maintained a constant activity, according to the notifications of Whale alert. Cryptocurrencies like Bitcoin, Link and BUSD have been the protagonists. In addition, a continuing trend is the burning of USDC tokens.
Bitcoin: crypto whales mobilize 12,041 BTC
This figure is the total of nine transactions recorded throughout today. Of these nine, six have been from exchanges to unknown wallets, again denoting a tendency to accumulation and totaling 10,485 BTC. Also, it should be noted that the largest of them was for 5000 BTC, from the Bitfinex exchange.
On the other hand, a transaction drew a lot of attention from the community, for the amount of Bitcoin it involved. This was done for a figure of 15,000 BTC, equivalent to USD 131,672,425. It is not surprising that it raised the alarms but Whale Alert was responsible for quickly notifying that it was an internal transfer of Bitfinex and not an attempt of obvious manipulation by a crypto whale.
USDC burning continues
As you read, this trend has been maintained since we made the last weekly report on the activity of crypto whales. Today 2,000,000 USDC were burned, but 3,500,001 USDC were minted.
Additionally, he highlighted a transfer for USD 10,000,000 from the USDC treasury to an unknown wallet. Whales that turn out to be institutions are those who normally do this type of operations, to expedite international payments.
Crypto whales and altcoins: Link and BUSD
Link has been the altcoin par excellence today in crypto whale operations. Of four reported operations, three were made to unknown wallets, but two were made between unknown wallets.
The total involved in these crypto whale operations is 1,649,982 LINK, equivalent to USD 7,893,156. There was also another one in which 500,000 LINKs (USD 2,480,071) were transferred from an unknown wallet to Binance.
As for BUSD, we can highlight that 7,945,852 BUSD were coined, then 5,707,871 BUSD were transferred to an unknown wallet. Also, through two different operations, 10,000,000 BUSDs were taken to Binance; one from an unknown wallet and another was made directly from the PAX reservation. Crypto whales did not have a particular tendency with this cryptocurrency.