New Wallet Receives $120.6 Million in Bitcoin from BitGo

Blockchain analytics from Lookonchain reveal the wallet '3AXFhi' acquired 1,300 BTC from BitGo in a single six-hour window, highlighting significant crypto movement.

BTC

Summary

Lookonchain reported on November 20 that a newly created wallet identified as '3AXFhi' received 1,300 Bitcoin, valued at $120.6 million, from BitGo within a six-hour period. The transaction reflects a notable transfer facilitated by the U.S.-based digital asset custodian.

Terms & Concepts
  • BTC: Abbreviation for Bitcoin, the largest cryptocurrency by market capitalization.
  • BitGo: A U.S.-based digital asset custody and security firm offering wallet and trade services.
  • Blockchain monitoring: The process of tracking cryptocurrency transactions on public blockchains using analytics tools.