DiutoCoinNews gathered from Bitcoin Block Bot via it’s Twitter handle of a recent Bitcoin transaction worth close to a billion dollars. As per the tweet, “Whale alert! Whale someone moved 63,500 BTC ($969M) in block 655,974 a few minutes ago”
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Whale alert! 🐋 Someone moved 63,500 BTC ($969M) in block 655,974 https://t.co/7H1f8WLxWi
— Bitcoin Block Bot (@BtcBlockBot) November 8, 2020
Bitcoin surged to a new record all-time high this month following the just concluded US presidential election. Bitcoin whales definitely had a good time where over 97% of Bitcoin address was reportedly on profit.
Currently at press time, Bitcoin is reportedly trading at $15,370.39 with a daily trading volume of $30,058,250,226. BTC price is down -1.7% in the last 24 hours. It has a circulating supply of 19 Million coins and a max supply of 21 Million coins.
Numerous factors have contributed to the recent surge in the price of Bitcoin including the tension that followed the US 2020 election. Just after the election, the price of Bitcoin dropped.
Now the price of Bitcoin has being trading on the $14,000 – $15,000 level of which no one knows how long it will rest on this level. Scarcity of supply have also contributed to the recent increase in price. Also the possible launch of DeFi/ Yield Farming on Bitcoin network dubbed as Lightning Finance is a factor.
Quick Facts: Lightning Finance is a new way for Bitcoiners to generate non-custodial yield on their bitcoin holdings on Bitcoin Network, instead of lending them through a custodian like BlockFi or turning them into wrapped bitcoin (WBTC) for DeFi yield farming on Ethereum Blockchain.
Yield Farming that can with DeFi on Ethereum network is similar to Lightning Finance, which is purportedly the Bitcoin network’s version of DeFi/Yield Farming.
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