Accounts holding such large crypto coins are potentially capable to influence or even manipulate the value of the cryptocurrency and are called— crypto whales, in the crypto slang.
According to Blokchain.com, the amount of Bitcoin transferred into another is a whopping $993,191,088 .
“This transaction was first broadcast to the Bitcoin network on November 15, 2021.
The exact purpose of the transfer is currently unknown, however, if such a sum was to be sold all at once, it could tumble the Bitcoin prices, at least for the short term.
At the time of writing this article, details about the owners of these wallets remain unknown.
Meanwhile, cryptocurrencies fell on Tuesday, with Bitcoin sliding toward the $60,000 level and Ether touching one of its lowest levels this month.