A Twitter account dedicated to Bitcoin (BTC) activity reported a substantial high-value transactions that occurred in one single block towards the end of June.
The Twitter account Bitcoin Block Bot disclosed that 25 bitcoin business dealings worth around $6 billion on June 30 were counted in block 583,139.
AmbCrypto on the Issue
According to crypto media outlet AmbCrypto, the transactions were part of a larger, linear deal. The undertaking was initiated by Wallet 1, which sent 24,392.93062596 BTC to wallet 2 and 300 more tokens to a third wallet.
The last address got a total of 5,800 BTC and was the receiver in all the transactions.
The second wallet also moved 300 BTC to a third wallet and 24,092.93013651 to wallet 4. This chain went on for 23 more transactions.
Interestingly, one deal that came from a vanity address included a message in its outgoing scripts stating that they will buy your Bitcoins and provided the address email@example.com.
Wallet 3 had conducted 440,505 transactions as of press time. It also received 5,959,532 BTC all in all. The wallet present holds about 6,445 BTC, which translates to around $72.5 million.
The recent transactions could be an indication that the Bitcoin is headed towards a resurgence. Mike Novogratz, crypto aficionado and Galaxy Digital creator, said last week that the price of Bitcoin could stabilize anywhere from $10,000 and $14,000.
The sentiment appears to be supported by Thomas Lee, the co-founder of Fundstrat Global Advisers. Lee claimed that the token’s volatility means it makes more sense for traders to approach it using a long-term strategy.