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Mysterious trader burns $8 million of BTC as market crashes
A mysterious trader sent more than $8 million worth of Bitcoin (BTC) to a well-known burn address on May 26, an on-chain tracker shared on X. The crypto trader sent 107 Bitcoin across five transactions to the burn address "1111111111111111111114oLvT2." Sending Bitcoin to a burn address means sending the cryptocurrency to a burn address. The method is meant to permanently and irreversibly remove the cryptocurrency from circulation. Once the transaction is confirmed on the blockchain network, the crypto assets are gone forever to a burn address with no private key and cannot be recovered. Reducing the supply of ... (full story)
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