Over 10,000 Bitcoins moved between wallets as BTC price continues to fluctuate

The cryptocurrency market has been seeing a marked shift in the number of cryptocurrencies being transferred, and with the start of the latest bull run, it has only increased. According to WhaleAlert, the cryptocurrency data aggregator, a day after the 11th anniversary of Bitcoin’s whitepaper, over 10,000 BTC was transferred between unknown wallets.

At a time when Bitcoin was just holding above the $9000 mark, users were clamoring for the world’s largest cryptocurrency to go back to its previous days of glory. The timestamp for the recent transaction was November 1 at 04:06:43 UTC.

The transfer amounted to a massive $90.737 million, an amount that captured the attention of the entire cryptocurrency market. The transaction had a hash of b95851e79c42bba59bb4fde24d0cd75bbe512879e96f4d2814d4392a51e9d938 while the transfer fee amounted to a measly 0.00012912 BTC.

The sender wallet had an address of 39zAv4u6QBSmUAttAUP6bLvENRMZuNAJaP while the receiver wallet had an address of 3FuqMT3VeyRhB917aiJUeWSn2jRt4M3hw8. The final balance on the sender wallet after transferring the 10,005 BTC was 10,864.24 BTC. The receiver wallet had a closing balance of 10,005.995 after the transaction.

As we write this, Bitcoin trades for $9,165 while holding a market cap of $165.19 billion. BTC also held a 24-hour volume of $26.42 billion after  21.45 percent appreciation in value in the 7-day timeframe. The Bitcoin community had recently celebrated the 11^th anniversary of Satoshi Nakamoto, releasing the BTC whitepaper for the general public. BTC enthusiast Jill Carlson also tweeted:

“On this day in 2008 the bitcoin whitepaper was published.

We talk a lot about the technological breakthroughs of that day. But we should also pay attention to the genius of the go-to-market. None of it was accidental…

Timing

Format

Distribution

Creator

Branding”

Eleven years since its inception, Bitcoin has gained tremendous support in the population as numbers show that the world’s largest cryptocurrency has more individual users than the total Bitcoin circulating supply. Bitcoin’s all-time circulating supply is 21 million, while the number of BTC users in the United States is a massive 27 million. Tuur Demeester, the Founder of Adamant Capital, also stated in a blog:

“Email was invented in 1972 but it took until 1997 for adoption to surpass 10 million people. The television set was invented in 1927 but by the end of the 1940s only 2% of American families owned one. Bitcoin, on the other hand, went from an idea in 2008, and a first transaction in 2009, to over 27 million users in the US alone in 2019, or 9% of Americans.”

Disclaimer: The presented information is subjected to market conditions and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.