A cryptocurrency whale address was the recipient of a whopping 23,500 Bitcoin (CRYPTO: BTC) transaction on Tuesday.

What Happened:  According to Santiment data tracker, the transfer, which was worth approximately $710 million, is the “4th largest recorded transfer of the year.”

Bitcoin has been steadily increasing in value over the past few weeks and broke the $30,000-barrier on Tuesday.

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Last week, a crypto whale received the “5th largest Bitcoin transfer of the year.” Over 17,769 Bitcoin worth $500 million popped up on the BTC network, Santiment reported.

This comes as Michael Saylor‘s Microstrategy Inc (NASDAQ:MSTR) resumed acquiring Bitcoin, having purchased an additional 1,045 bitcoins for approximately $29.3 million at an average price of $28,016 per bitcoin. 

Price Action: At the time of writing, BTC was trading at $29,956, down 0.32% in the last 24 hours, according to Benzinga Pro.

Read More: Bitcoin Holds $30K, Ethereum Drops Before Shapella Upgrade, Dogecoin Down: Analyst Predicts Drop For Top Crypto