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Whales Are Sending More BTC to Exchanges: What Could That Mean?

Published 27/07/2023, 15:23
© Reuters Whales Are Sending More BTC to Exchanges: What Could That Mean?

  • Whale inflows to crypto exchanges have sustained an elevated inflow bias.

  • The inflow bias has been between 4,000 to 6,500 bitcoins per day since June this year.

  • Whale netflows to exchanges act as a proxy for the cohorts’ influence on supply and demand.

According to Glassnode, the on-chain and financial metrics platform, Whale inflows to crypto exchanges have sustained an elevated inflow bias of between 4,000 to 6,500 bitcoins per day throughout June and July this year. That is a significant variation from the historical rates of netflows, which oscillated between 5,000 bitcoins and -5,000 bitcoins per 30-days over the last five years.

According to a tweet from the platform, BTC whale netflows to exchanges can act as a proxy for the cohorts’ influence on supply and demand. Glassnode shared a screenshot that summarized …

The post Whales Are Sending More BTC to Exchanges: What Could That Mean? appeared first on Coin Edition.

The post Whales Are Sending More BTC to Exchanges: What Could That Mean? appeared first on Coin Edition.

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