Bitcoin Whale Moves 5,001 BTC Off Gemini
The BTC address associated with this transaction has been identified as: 3Kzh9qAqVWQhEsfQz7zEQL1EuSx5tyNLNS.
Why it matters: Bitcoin "Whales" (investors who own $10 million or more in BTC) typically send cryptocurrency from exchanges when planning to hold their investments for an extended period of time. Storing large amounts of money on an exchange presents an additional risk of theft, as exchange wallets are the most sought-after target for cryptocurrency hackers.
The best way to secure Bitcoin is through holding it on a hardware wallet, which can't be done through holding digital assets on an exchange. Hardware wallets store one's private keys in an offline device, making it impossible for funds to be hacked via the internet.
According to Glassnode, only 13.05% of the total supply remains liquid across all centralized exchanges.
Video: Bitcoin Touches 11-Month Low (QuickTake)
-
Ja Rule Donates NFT Proceeds to HBCUs "It's basically telling the story of Black America, from our joy to our pain." Rapper Ja Rule is the latest celeb to enter the NFT universe, and some proceeds from the sale of the "Black Is Beautiful" collection will go to 5 HBCUs
QuickTake
-
CEOs are blaming work-from-home for slow sales In their quarterly earnings, the likes of Shake Shack, Clorox and several other companies say sales are down because of low return to office rates. But what does that have to do with slow sales? Madison Mills explains.
QuickTake
-
Europe's Heat Wave Putting Pressure on Power Grid A heat wave is scorching parts of Europe, but that hasn't stopped the continent from burning more coal as Russia's war in Ukraine disrupts fossil fuel resources. Bloomberg's Charlie Hancock reports for Quicktake.
QuickTake
The removal of BTC from an exchange reduces potential sell side pressure, allowing the price of Bitcoin to increase more easily.
See Also: Best Crypto Apps 2021 and Best Crypto Portfolio Trackers
Price Action: Bitcoin is up 4% in the past 24 hours.
See Also: How To Buy Bitcoin
Public Blockchain data sourced from Whale Alerts Twitter.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
More From Benzinga
-
Good News For Maridose, DEA Grants A Cannabis Cultivation License For Research
Benzinga
-
Warren Buffett Purchased More Shares Of Paramount, Activision Blizzard and Ally Financial: How These 3 Dividend Stocks Can Provide Value
Benzinga
-
12 Consumer Discretionary Stocks Moving In Friday's After-Market Session
Benzinga