Crypto whales are reportedly moving hundreds of millions worth of Bitcoin (BTC) and one Shiba Inu (SHIB) competitor out of a top crypto exchange as the markets respond to the Federal Reserve announcing further rate hikes.
According to new data from whale-surveying platform Whale Alert, a staggering 84,890,577,207,998 Dogelon Mars (ELON) tokens, worth about $29 million at time of writing, were abruptly shifted from Crypto.com to an unknown crypto wallet.
Transactions featuring the king crypto were also on Whale Alert’s radar as many deep-pocketed investors started transferring millions of dollars worth of the top crypto asset by market cap out of the Singapore-based digital asset exchange as well after the Fed announced it would be raising interest rates despite the recent banking crisis.
The BTC transactions noticed by Whale Alert, which were identical in nature, include:
- 1,433 BTC worth about $39,041,477 transferred from Crypto.com to unknown wallet.
- 1,433 BTC worth about $39,041,477 transferred from Crypto.com to unknown wallet.
- 1,433 BTC worth about $39,041,477 transferred from Crypto.com to unknown wallet.
- 1,433 BTC worth about $39,041,477 transferred from Crypto.com to unknown wallet.
- 1,433 BTC worth about $39,041,477 transferred from Crypto.com to unknown wallet.
In total, $195,231,414 worth of digital assets were moved out of the crypto exchange platform.
Bitcoin is trading for $28,535 at time of writing, a fractional decrease during the last 24 hours while ELON is moving for $$0.000000354433, a 1% drop during the same time frame.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/KumaSora/Nikelser Kate
