A single buy order of 661 Bitcoin on crypto exchange Bitfinex triggered a 2.7% increase in the price of BTC in less than 30 minutes.
The trade, worth more than $2 million, was tracked on Reddit.
The big buy order helped spark a broader crypto rally.
At time of publishing, Bitcoin is up 3.5% in the last 24 hours at $3,873, according to CoinMarketCap. Ethereum (ETH) rallied more than 11%, pushing the platform’s market cap above XRP by about $700,000.
The price of ETH dropped to a low of about $83 last month. That, combined with an XRP rally, caused the two market caps to flip.
Ethereum has reclaimed its throne as the second most valuable cryptocurrency in the market, following a 80 percent increase in price in 30 days, from $83 to $150
— Joseph Young (@iamjosephyoung) January 2, 2019
The rest of the crypto market is also seeing green.
Litecoin and EOS are up more than 5%. Tron jumped 4%, with XRP and Bitcoin Cash up 3%.
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.