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Anonymous Cryptocurrency Transactions Rise in Recent Times

Anonymous Cryptocurrency Transactions Rise in Recent Times

The recent bullish moves in the crypto market have also led to a rise in the number of anonymous transactions. In the last 12 hours alone, over 15,000 Bitcoin and 125,000 Ethereum have been moved from unknown wallets.

Whale Alert gives new data

Blockchain tracker and crypto analytics company Whale Alert recently published data suggesting that an unknown wallet transferred 7,977 Bitcoins on Wednesday. An unidentified user moves their stack of 3,730 Bitcoins from crypto exchange Bitstamp into an unknown wallet. Another transaction reported today showed a move of 3,947 Bitcoins from an unidentified user to an unknown wallet. The total value of these transactions is about $500 million.

Anonymous Cryptocurrency Transactions Rise in Recent Times

The price of Bitcoin has fallen by over 10% in the last 7 days but the cryptocurrency is posting huge gains on a year-on-year basis. The coin reached its all-time high of $41,500 earlier this month and slipped to $31,000 as of current trading times. The total market cap of the currency has gone to $590 billion.

Mysterious Ethereum transactions

The second-largest cryptocurrency Ethereum also posted significant gains earlier this week and reached a new all-time high of $1,470. Its price has almost doubled since the beginning of the week when it was just $750. According to Whale Alert, there were some mysterious movements of Ethereum too which involved a total of 126,000 ETH.

The first transaction moves 100,000 ETH from the crypto exchange OKEx into an unknown wallet. In the second transaction, about 26,253 ETH were moved to an unidentified wallet. Other coins like XLM, BUSD, UNI, USDT, and PAX have also moved in similar ways. The overall market capitalization of cryptocurrencies is $900 billion at the time of writing, $150 billion short of last week. Ethereum has dropped over 15% from the recent highs and its market cap is $140 billion. It is trading at $1,250, marking a 5% fall in the past 24 hours.

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    Sherlock Gomes loves to write and express his views on anything related to Crypto. He has been covering Crypto for more than two years now. He likes Bitcoin and Cardano. He also writes on Finance, Healthcare, and Technology among other stuff. He can be reached by e-mail on sherlockg@insidebitcoins.com