Luna Foundation Guard just moved $1.4 billion Bitcoin to an exchange |
A new decentralized cryptocurrency exchange launched today, called Luna Crypto Exchange. The company’s mission is to help improve the quality of Bitcoin trading by providing a healthy and safe marketplace for investors and traders.
A new report from the Luna Foundation Guard has revealed that they just moved $1.4 billion Bitcoin to an exchange. The move is likely to cause a significant drop in the value of Bitcoin and other cryptocurrencies. Read more in detail here: luna crypto.
The Luna Foundation Guard is transferring billions of dollars worth of Bitcoin over the network. The wallet address “bc1q9d4ywgfnd8h43da5tpcxcn6ajv590cg6d3tg6axemvljvt2k76zs50tv4q” formerly contained 42,530 BTC, however it was emptied today, May 9 at 6:34 PM UTC. The address has been verified as LFG’s reserve wallet in the past, and it has been gradually gathering Bitcoin for months.
The Bitcoin has been transferred to other wallets multiple times, and each time the whole sum was moved within minutes of the confirmation. The money was divided at wallet “bc1qsl,” with 12,530 BTC going to one address and 30,000 BTC going to another. The 30,000 BTC was divided into two packages of 18,407 BTC after 7,000 BTC was added from another wallet. According to internet statistics, both items were shipped to the Gemini Exchange.
At the time of writing, the transaction was still pending confirmation.
Blockchair is the source of this information.
Do Kwon said on Twitter that he is “deploying additional cash.” However, it is not difficult to predict whether the Bitcoin community would enjoy a $1.2 billion sell market order. It’s unclear if the Bitcoin transferred to Gemini will be sold, but with the UST currency peg in jeopardy, it’s one option LFG has.
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The “Luna Foundation Guard just moved $1.4 billion Bitcoin to an exchange” is a story about how the Luna Foundation Guard just moved $1.4 billion Bitcoin to an exchange. The foundation claims it was done in order to protect the cryptocurrency from being taken over by hackers and malicious actors. Reference: btc to usd.