Whales of Bitcoin, ETHUSD have just returned $743 million

The price of Bitcoin BTCUSD has rebounded and is now around $23,000, the market for the cryptocurrencies market has been on a rollercoaster ride.

Three huge Bitcoin and ETHUSD whales are turning heads among traders in the midst of the year's gains. According to Blockchain data, the whales have just moved $743 million of the two criptocurrencies in just three transfers.

A large Bitcoins whale transferred 13,369 BTC worth $311 million from an unknown wallet to another last week. According to BitInfoCharts, the transaction was traced to one of the top 65Bitcoin wallets. The wallet was used for sending and receiving funds.

The whale moved a large amount of ether worth $309 million from one unknown wallet to another. The amount transferred was 186,009 ETH.

A Whale Alert pointed out a large Bitcoin transaction worth $123 million, which originated from Gate.io and was transferred to an unidentified wallet. The amount sent was 5,278 BTC.

According to the report, an investor may have moved funds to a cold wallet to make a purchase or someone may have executed the transfer for extra security.

Whales typically send cryptocurrencies from exchanges when they plan to hold their investments for an extended period.

Exchange wallets are one of the most sought-after targets for stealing large amounts of money on exchange, as they present an additional risk of theft.

In the last 24 hours, the price ofBitcoin was down 2.2%. The price of ether was trading at $1,623, falling 3.2% over the past 24 hours.