Cryptocurrency exchange Binance has once again faced a massive outflow of funds totaling 38,246 Bitcoins (BTC), according to CryptoQuant data. In addition to the stock market, which experienced a significant decrease in its Bitcoin balance, these exits are thought to be made naturally by investors.
Whose wallet does Bitcoin (BTC) go to?
cryptocoin.com As we reported, Binance.US faced a major error called “slippage”, which is the difference between the expected price of a transaction and its spot price. When the order book in the market is too weak and the stock market is unable to provide sufficient liquidity, the volatility on the asset tends to increase exponentially, resulting in a large drop in value.
Due to the error, Bitcoin price dropped to $8,000 on Binance.US, and many buy orders were executed on the way. Data from Binance.US shows that more than 594 BTC changed hands at the time of the crash.
On the other hand, with Bitcoin breaking its previous all-time high of around $64,000 and trading volume holding steady, some think that traders and investors want to keep their funds in their wallets. Looking at the volumes, there is no significant selling pressure on the central exchanges, along with the abnormal trading activities. Bitcoin price is changing hands at $63,244, up 2.7 percent at the time of writing.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram and YouTube join our channel!
Disclaimer: The articles and articles on Kriptokoin.com do not constitute investment advice. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, asset or service in this article.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.