Bitcoin whale seems to be accumulating Bitcoins on the OKEx crypto exchange. The Bitcoin whale has moved four thousand Bitcoins onto the exchange, the value of which is close to thirty-two million dollars ($32M) at the current trading rate. The activity was detected yesterday by Twitter’s whale_alert.
The service detected large-scale transactions heading to OKEx from the wallet. This is occurring during a time in which Bitcoin’s price has fallen below the eight thousand dollar mark and is expected to fall to seventy-five hundred dollars.
Bitcoin whales and why are they important
In crypto markets, ‘whales’ or traders with a massive amount of digital assets are said to be controlling the markets. In such a market, tracking transactions conducted by these whales can be considered as market analysis. Whales are high net worth wallets that are often seen making moves before a significant movement in an asset’s price. Read More...