Crypto traders are tracking a series of massive Bitcoin whale transfers.

In a matter of just six hours, whales have moved 318,649 BTC worth more than $3 billion. All of the transfers happened between wallets of unknown origin.

This indicates the crypto may have changed hands in over-the-counter (OTC) sales, or the users decided to shift funds to new wallets for security.

So far, none of the BTC appears to be headed to crypto exchanges, where it could be traded on the open market and have an impact on the price of Bitcoin.

Until this burst of activity, whales had been relatively quiet in recent days with the price of Bitcoin hovering between $9,400 and $10,200.

At time of publishing, Bitcoin is down 0.77% at $9,486 according to CoinMarketCap.

 

This article was first seen on the Daily Hodl and can be found here: https://dailyhodl.com/2019/07/29/massive-crypto-whales-move-318649-btc-worth-3-billion-in-just-six-hours/