September 19, 2020

Large investors began to transfer cryptocurrency to exchanges

"Whales" are actively moving coins to platforms, and after the decline in the bitcoin rate from $ 12,000 to $ 10,500, this process only has increased, said CryptoQuant CEO Ki Yang Joo. He noted that some holders send BTC to sell, while others send stablecoins to buy.

Cryptocurrency market will happen this weekclash between buyers and sellers, said the head of the analytical service CryptoQuant Ki Yang Joo on his Twitter account. He reported that large bitcoin holders have begun transferring their BTC holdings to exchanges.

For the first time, the service recorded an inflowcryptocurrencies to trading platforms on July 30. Coins were sent not only by ordinary users, but also by big players. At the same time, stablecoins moved to exchanges along with bitcoins. Perhaps this was one of the reasons for the fluctuations in the BTC rate that happened yesterday, August 2. The asset price first rose above $ 12,000 and then fell to $ 10,500 within 5 minutes.

In another post posted afterof the rapid decline in the price of BTC, Ju added that the influx of bitcoins to trading floors has only increased. Separately, the head of the service noted that a significant part of transfers falls on large players.

“Large investors are sending bitcoins to exchanges. Other whales are sending stablecoins to exchanges. A battle will take place this week between the entry of stablecoins and bitcoins into exchanges. These receipts indicate the potential of a buyer and a seller ... Since my last tweet, the flow of BTC has only increased, "Ju wrote.

July 31, another analytical service Glassnodesaid that the "whales", on the contrary, began to actively buy cryptocurrency. Against the background of the recent rise in the price of bitcoin to $ 11,000, the number of wallets with a balance in BTC of $ 1 million or more increased by 38%, to 18 thousand addresses. Perhaps this discrepancy is due to macroeconomic factors. On the one hand, large investors can transfer capital to cryptocurrency, fearing the depreciation of the dollar due to its growing emission. On the other hand, those who bought digital assets during the March recession to $ 3,800 could start fixing 200% of the profits made.