Earlier today, a mysterious – and massive – Bitcoin transaction took place. In fact, the receiving wallet of the significant Bitcoin transaction is now said to be the richest non-exchange address. What’s more, the address is not known to be associated with any crypto-related company.

Massive transaction peak analysts’ interest

This large Bitcoin transaction has raised a number of questions. Moreover, many are speculating over where the transaction came from, and what actor is behind it. Also, the sheer size of the transaction means it is now the king of non-exchange addresses.

Specifically, this behemoth transaction consists of a massive 94,504 Bitcoin. The market value of this transaction is over $1 billion, with the current Bitcoin market price of $10,873. Data from the monitoring organization Bininfocharts suggests that the receiving wallet is now the richest non-exchange address.

Analysts are now scratching their head in trying to discern the transactions origins. Currently, around one third of this mystery transaction is said to come directly from the Huobi exchange. This is at least according to information from the British blockchain data provider TokenAnalyst.

This is further backed up by the blockchain metrics and data firm Glassnode. Nevertheless, Glassnode takes things even further, and suggests that “at least 73,000” of the Bitcoins sent come from Huobi.

It would seem that Huobi is, therefore, indeed an involved party in the transaction. Another crypto observer sent a tweet claiming that “at least two Bitcoin wallets” in the transaction belong to Huobi.

The transaction reportedly “did not involve any known wallets”

With this said, it is unclear exactly where this transaction comes from. Earlier today, Whale Alert, the cryptocurrency monitoring resource, reported that the large transaction did not “involve any known wallets”, or any belonging to known crypto exchanges or otherwise crypto-related firms.

It has been theorized that the transaction could, however, relate to Bakkt. This institutional trading platform starts accepting client deposits today. As such, it is possible this could somehow be a trigger factor.

For example, Max Keiser said that it was “institutions building inventory for their market-making needs going forward” that was behind the transaction.

Also, the actor behind the large transaction also spent around $700 on fees, at 480 satoshis per byte. Although this is a relative drop in the ocean, it is still a very high fee rate. At a rate of 23 satoshis per byte, the transaction could have been done in 10 minutes for around $35 dollars.