Top European Exchange Moves Over 9 Trillion Shiba Inu In Three Days

Bitvavo has moved 9,246,061,354,748 Shiba Inu tokens to an unknown wallet this month.

The community-based automated tracker of significant crypto movement, Whale Alert, has captured a substantial transfer of Shiba Inu in the past day.

In a tweet on Monday, Whale Alert disclosed that over 4.6 trillion Shiba Inu tokens were sent to an untagged wallet. The market tracker noted that the transfer came from Bitvavo, a prominent European crypto exchange. 

Specifically, Bitvavo moved 4,615,530,677,374 SHIB to an unknown wallet. The assets were worth $35,694,206 at the time of the transfer.

? ? 4,615,530,677,374 #SHIB (35,694,206 USD) transferred from #Bitvavo to unknown wallethttps://t.co/ZtTK0oWWWn

— Whale Alert (@whale_alert) September 4, 2023

In response to this noteworthy transaction, Loch Chain, an on-chain intelligence resource, shed light on the mysterious recipient wallet. The platform pointed out that this particular wallet is a new wallet, as no prior transactions are associated with it. 

Notably, while Whale Alert called the receiving address an unknown wallet, data from the blockchain explorer confirmed the wallet is a Bitvavo-controlled address. Additionally, the wallet has just one entry in its transaction history.

Bitvavo Transferred Over 9T Shiba Inu

Interestingly, the recent transaction from Bitvavo is not the first of its kind this month. Three days ago, the exchange moved a similarly large amount of Shiba Inu to a wallet. In particular, the transaction was 4,630,530,677,374 SHIB tokens. It was worth $36,696,955 at the time.

In sum, Bitvavo has moved 9,246,061,354,748 (over nine trillion) within the last three days of this new month. Meanwhile, the exchange only moved 4.6 trillion SHIB in one transaction throughout August.

Bitvavo also moved a significant significant amount of Shiba Inu in December 2022. Interestingly, the exchange’s Shiba Inu transfers have been outflows to unknown wallets. Whale Alert has captured no inflow from untagged wallets back to the exchange.

Despite Bitvavo’s recent increased movement of Shiba Inu, the token accounts for less than 2% of the exchange’s total trading volume in the last 24 hours.