Whale transfers 4000 BTC in Gemini exchange


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Bitcoin has suffered heavy losses since the beginning of 2022, with the entire cryptocurrency market crashing. In the past, bitcoin had come up 30% while improving the price. But once again its price took a dive and it started going up and down around $ 25 thousand. As a result of this, activity in the bitcoin network started decreasing once again in the last few days. Meanwhile, news is coming from crypto whales that a big transaction has been done in bitcoin.

Whale Alert, a well-known on-chain analytics and tracking platform, has revealed large transactions in bitcoin. The platform has revealed that 4000 bitcoins have been sent from an unknown crypto wallet to the Gemini exchange. The value of these tokens has been reported to be $86 million. The supply of bitcoin is increasing but it is not in active state yet. According to on-chain market intelligence platform Glassnode, the percentage of bitcoin’s supply, which was the most active five years ago today, reached an all-time high of 24.4% on Monday.

The report said that even the recent surge in the price of bitcoin has not been able to attract new investors towards it. The network exchange flow is also not showing that there are new active users added to bitcoin. Due to this, the price of bitcoin is not able to get any further push and it is hovering around the old price (25 thousand dollars) after falling again with a slight increase.

Talking about the current price of bitcoin, today, on Friday, August 26, its trade opening was with an edge. But, at the time of writing the news, it started appearing in red color. According to the Indian exchange Coinswitch Kuber, the price of bitcoin has lost 0.05% today. At the time of writing the news, it was trading at INR 17,18,920. It remains to be seen what the trend of crypto prices will be till the end of the day.


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