While the crypto market continues to wipe out deposits on a large scale and liquidate overly greedy and late traders, large-scale cryptocurrency transfers involving unknown wallets continue to take place in the background. One such attention-grabbing transfer was the transfer of 666 BTC, which at current prices is equivalent to $62.17 million.
According to Whale Alert, this transfer took place from an unknown wallet under the address “3NVeX” to the address which, according to the tracking service, belongs to Antpool, which is one of the largest mining pools in the industry.
Interestingly, at the same time, data from Arkham Intelligence shows that the transfer was made not to the address of the mining pool but to the custodial account of Cobo’s, which is a popular Web3 wallet platform.
This address, however, was not the last stop for the Bitcoin (BTC) data, when another 17 BTC and a transfer of 683 coins was made to an unknown address, “3BHXy.” This Arkham address is also suspected to belong to Cobo, and its balance right now contains 5,435 BTC, which is equivalent to $511.53 million.
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Such transfers excite the crypto public because they are often associated with the sale or purchase of cryptocurrency by a major player.
However, here, it is likely that this is not the case, and it is most likely just a transfer of Bitcoin from one pocket to another. Thus, it can be concluded that the only sinister thing here is the initial amount of the transfer.