$1 billion Bitcoin vanishes from Coinbase, whale move triggers massive liquidations - where did it go?
Live Events
Bitcoin price drops, market gets nervous
FAQs
(You can now subscribe to our
(You can now subscribe to our Economic Times WhatsApp channel
A huge Bitcoin transfer worth almost $1 billion happened recently. This Bitcoin was sent from Coinbase to an unknown wallet. The transfer caused a big buzz in the crypto world because no one knows who owns the new wallet.People think this might be either a big company buying Bitcoin or someone putting their coins into cold storage for long-term safety. Whale Alert , a tracker that watches large crypto movements, reported that 7,743 BTC, worth around $916.25 million, was moved.At that time, Bitcoin's price was $118,329.11 per coin. This is part of a larger trend of whales (people with huge Bitcoin amounts) becoming more active again. Data from IntoTheBlock showed that big Bitcoin transactions have gone up in the last 2 weeks. This shows that huge BTC holders are back and moving their coins again.Things got more exciting when a Bitcoin whale , who hadn't touched their BTC for 14 years, suddenly became active again. This whale moved $8.7 billion worth of Bitcoin across multiple unknown wallets. These transfers happened in just a few hours.Around the same time, Bitcoin's price dropped below $117,000, making people think a price correction might be coming. That same old whale also sent 9,000 BTC (about $1.06 billion) to Galaxy Digital, a crypto investment firm. These massive moves have made the Bitcoin market very shaky and unsure.Traders and investors now fear more selling might happen, causing even more price drops. Everyone is watching closely because this sudden whale activity is shaking up the market. The final effect on Bitcoin's price and the crypto world is still unknown.It was sent to an unknown wallet, possibly for long-term storage or by a big investor.Massive whale moves made people fear more selling, which caused panic and liquidations.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
24 minutes ago
- Economic Times
Cancer Horoscope Today, 20th August 2025: Emotional clarity strengthens personal progress
Synopsis Cancer Horoscope Today, 20th August 2025: The Moon is transiting from your sign today. Your emotions run deep, and your intuitive powers are at their peak. Mercury's presence in the Cancer sign sharpens your ability to express feelings clearly. It creates harmony in both personal and professional matters. It is good for inner balance, self-confidence, and making decisions that nurture your long-term goals. ET Online Cancer Horoscope Today: Emotional clarity strengthens personal progress The Moon is transiting from your First House today. Your professional life benefits from strong intuition and communication. The project may demand extra effort, but your persistence will pay off. Expect appreciation from superiors for your dedication. Avoid conflicts by focusing on teamwork and stability is achievable if you remain disciplined. Consider planning for future investments rather than short-term gains. Avoid lending money without clear terms. Your pending financial opportunity may bring positive news by evening. Your love life shines with emotional depth and tenderness. You may attract someone who appreciates your sensitivity. You will find joy in meaningful conversations and shared plans. Avoid overthinking small issues that can disturb emotional well-being influences your physical energy today. You can prioritise rest, hydration, and mindfulness practices. A calm mind will enhance your overall vitality. Written by: Anand Sagar Pathak of Disclaimer Statement: This content is authored by a 3rd party. The views expressed here are that of the respective authors/ entities and do not represent the views of Economic Times (ET). ET does not guarantee, vouch for or endorse any of its contents nor is responsible for them in any manner whatsoever. Please take all steps necessary to ascertain that any information and content provided is correct, updated, and verified. ET hereby disclaims any and all warranties, express or implied, relating to the report and any content therein.
Time of India
an hour ago
- Time of India
Rare earth, common ground: India and China realign amid US tension
India-China ties making steady progress: PM Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel New Delhi: China has lifted restrictions on the export of rare earth magnets fertilisers and tunnel boring machines to India in a diplomatic breakthrough , signalling a warming of ties between the Asian giants in the face of US tariff threats With shipments of the critical inputs getting underway, the initiative to ease tensions to stabilise ties comes ahead of Prime Minister Narendra Modi's trip to China, his first in seven years, for the Shanghai Cooperation Organisation (SCO) summit at the end of the development took place at the meeting that visiting Chinese foreign minister Wang Yi held with his Indian counterpart S Jaishankar in New Delhi on minister assured Jaishankar that China would address India's need for rare earth magnets, fertilisers and tunnel boring machines, a source said. ET has learnt that shipments of these items have already Tuesday after Wang Yi called on the PM, Modi said he's looking forward to his next meeting with the Chinese President in Tianjin on the margins of the SCO Summit. 'Glad to meet Foreign Minister Wang Yi. Since my meeting with President Xi in Kazan last year, India-China relations have made steady progress guided by respect for each other's interests and sensitivities. I look forward to our next meeting in Tianjin on the sidelines of the SCO Summit. Stable, predictable, constructive ties between India and China will contribute significantly to regional as well as global peace and prosperity,' PM Modi wrote on Jaishankar-Wang Yi talks covered economic and trade issues, cross-border pilgrimage, people-to-people contacts, river data sharing, trade, connectivity and bilateral exchanges. This was the second time since July that Jaishankar had discussed the issue of trade restrictions with Wang had reported August 14 that India and China may discuss a trade package covering supplies of critical rare earth magnets, fertilisers and pharmaceuticals ahead of the Prime Minister's proposed China trip. The first sign of a thaw in Sino-Indian ties since 2020's border tensions comes as the Trump administration has taken a more accommodating view toward Beijing by extending a trade truce and delaying the imposition of tariffs by another 90 days on August 11, besides moving to lift curbs on the export of high-end chips to China. Trump has been more aggressive against India, threatening to double tariffs to 50%, putting in doubt the visit by a US trade team to negotiate a bilateral trade automobile and electronics industries, including companies such as Bajaj Auto and industry association Electronic Industries Association of India, have repeatedly flagged shortages of rare earth magnets, warning of production getting April, China mandated special export licences for seven rare earth elements and related magnets. Rare earth minerals are considered vital for high-end technology products, including electric vehicles (EVs), drones and battery storage. China has been a dominant player in the critical minerals supply chain fertiliser curbs disrupted di-ammonium phosphate (DAP) supply during the rabi season. Beijing had stopped exports without an official notification, having been a prominent supplier of DAP to India until FY24. Imports from China crashed to 840,000 tonnes in FY25 from 2.29 million tonnes in FY24. Nothing has come to India since January this year. With China's move, Indian DAP stocks are likely to grow, ensuring timely distribution for the cropping cycle. This will relieve pressure on India's procurement channels, sources said.
Economic Times
3 hours ago
- Economic Times
Cryptocurrency Live News & Updates : Crypto Stocks Hit 4-Month Low Amid Market Decline
In a turbulent market, crypto-related stocks have seen significant declines, with MSTR, the largest corporate BTC holder, down 7.8%. This drop coincides with Bitcoin's fall to $113,000, prompting caution among investors ahead of Federal Reserve Chair Jerome Powell's anticipated speech. Other notable declines include Galaxy (GLXY) down 10% and Robinhood (HOOD) down 6.5%. Meanwhile, Toyota is exploring blockchain technology to tokenize car ownership, potentially transforming vehicles into tradable assets. This initiative could enable investment in car fleets and improve capital raising for fleet operators. In legislative news, Senator Tim Scott is rallying bipartisan support for the CLARITY Act, which aims to clarify crypto regulations, while facing opposition from Senator Elizabeth Warren, who criticizes the bill for lacking consumer protections. Lastly, the Federal Reserve's new vice chair, Michelle Bowman, advocates for a more open regulatory approach to crypto, emphasizing the need for banks to embrace digital assets. These developments highlight the ongoing evolution and challenges within the cryptocurrency landscape. Crypto stocks plummeted on Tuesday, with Bitcoin dropping to $113,000. MSTR fell 7.8%, while ETH and SOL-focused treasuries faced larger losses as investors await Fed Chair Jerome Powell's speech. Toyota Investigates Blockchain for Car Asset Tokenization Toyota is investigating the tokenization of vehicles, aiming to transform car ownership into tradable assets through a new blockchain network that tracks vehicle data. Senator Scott Seeks Democratic Support for Crypto Legislation Senator Tim Scott anticipates 12 to 18 Democratic votes for the CLARITY Act, while facing opposition from Senator Elizabeth Warren, who labels the bill an industry handout. Solana Shows Promise Despite Recent Price Decline Solana's SOL token has dropped 15.5% from its peak, raising bearish concerns. However, strong DEX volumes, a 20% increase in total value locked, and rising institutional interest suggest potential for recovery. Fed's New Supervision Chief Advocates Crypto Integration Michelle Bowman, the Federal Reserve's vice chair for supervision, urges a shift from cautious regulatory approaches to embrace crypto, emphasizing the need for clear rules and allowing Fed staff to hold crypto assets. Bitcoin Could Reach $180,000 by Year-End, Says VanEck VanEck analysts predict Bitcoin will hit $180,000 by year-end, citing bullish trends in futures markets and increased corporate demand for BTC. HBAR Price Set for Rebound Amid RWA Optimism Despite a recent market downturn, HBAR's bullish chart pattern and excitement surrounding its role in real-world assets suggest a potential price recovery. Arbitrum Proposes Ronin L2 on Orbit Chain A proposal has been made to develop Ronin L2 as an Arbitrum Orbit chain, aiming to transition the gaming chain to a fully Ethereum-compatible layer 2 by 2026. Dazhihui Addresses Stablecoins and Virtual Assets Dazhihui has clarified that it does not currently participate in stablecoin or virtual asset trading, citing a lack of necessary qualifications and no significant issues to address regarding market rumors. U.S. Adds 407 Categories to Steel and Aluminum Tariffs The U.S. Department of Commerce has expanded its steel and aluminum tariff list to include 407 product categories, imposing a 50% tax rate on these items. Top Crypto Investment Insights from Franklin Templeton CEO Franklin Templeton's CEO, Jenny Johnson, labels bitcoin a 'fear currency' and emphasizes investment in blockchain infrastructure over digital assets. MetaMask Integrates with Tron's $26 Billion Ecosystem MetaMask has partnered with TRON DAO to integrate the Tron blockchain natively, enabling its 100 million users to access Tron's extensive liquidity pools and dApp ecosystem directly. Circle Introduces Gateway for Cross-Chain USDC Transfers Circle has launched Gateway, allowing instant USDC transfers across seven major blockchains, enhancing stablecoin usability and liquidity management. Bitcoin (BTC) Falls Below 113,000 USDT As of August 19, 2025, Bitcoin has dipped below 113,000 USDT, currently trading at 112,991 USDT, reflecting a 2.98% decrease over the past 24 hours. SNEK Price Forecast: Will It Surge Further? SNEK is currently priced at $0.0046895, showing a recent decline. Predictions suggest potential fluctuations and a possible drop to $0.003852 by September 2025, while long-term forecasts for 2030 range between $0.011017 and $0.0291. SingularityNET Launches MetaMo for AGI Systems SingularityNET has launched MetaMo, a comprehensive framework for developing motivation systems in general artificial intelligence (AGI), integrating advanced mathematical concepts to enable self-modifying agents. SkyBridge Capital to Tokenize $300M Hedge Funds on Avalanche SkyBridge Capital is set to tokenize $300 million of its hedge funds on the Avalanche network, partnering with Tokeny and Apex Group to utilize the ERC-3643 token standard. Bowman Supports Limited Crypto Holdings for Fed Employees Federal Reserve Governor Michelle Bowman advocates for allowing Fed employees to hold small amounts of cryptocurrency to improve their understanding of crypto products, citing potential recruitment benefits. Bipartisan Efforts Expected for U.S. Crypto Legislation As Congress remains in recess, there is optimism for bipartisan support on the Digital Asset Market Clarity (CLARITY) Act, with Senator Tim Scott anticipating Democratic backing following the passage of the GENIUS Act. 401(k) Plans Could Propel Bitcoin Adoption André Dragosch from Bitwise believes that allowing cryptocurrencies in U.S. 401(k) plans could significantly enhance Bitcoin adoption, potentially introducing billions in new investments.
