Grayscale Transfers 1,400 BTC to 2 Unknown Addresses

IconCryptoNewsTerminal Staff25 Jul, 2024

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Grayscale Transfers 1,400 BTC to 2 Unknown Addresses

Grayscale Investments, the world's largest digital currency asset manager, has transferred 1,400 Bitcoin (BTC) worth approximately $89.9 million to two unknown addresses, according to data from on-chain analytics firm Arkham Intelligence. The transfer occurred about 15 minutes ago, with Grayscale sending 1,000 BTC to one address and 400 BTC to the other. The reasons behind the transfer are currently unknown, and Grayscale has not yet commented on the matter. This is a significant development, as it represents one of the largest single Bitcoin transactions in recent months. It is also worth noting that this transfer comes at a time when the cryptocurrency market is experiencing a period of volatility, with Bitcoin's price fluctuating between $60,000 and $70,000 in the past few weeks.

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