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Bitcoin Exchange Inflow Is Increasing Rapidly

Santiment also highlighted an increase in Bitcoin exchange inflow. According to Santiment, Bitcoin millionaires who hold between 100 and 10,000 BTC have nearly 20,000 more coins than on Wednesday.

25 August 2021 was one of the most active days of Bitcoin’s history. A major BTC whale account transferred 6,000 coins valued at more than $290,000,000 from Binance, the digital exchange, to the crypto wallet, Xapo, on Wednesday.

“Bitcoin has just made history by registering its largest inflow day since June 19, 2019, according to the exchange. Both days now share the record for largest exchange inflows since June 19, 2019, with 1.68M BTC flowing onto exchanges. Expect an increase Volatility ,” Santiment highlighted.

Glassnode’s latest on-chain analysis report stated that “Exchange Net Flow” shows that there were overall net inflows to the exchanges this week. This is because some investors and traders appear to be taking advantage of market strength.

Bitcoin Whales

Large BTC addresses are crucial for the global network activity of the largest cryptocurrency. Bitcoin millionaires who hold between 100 and 10,000 BTC currently own more than 9,000,000 Bitcoin, roughly half of the total. Whale Alert today highlighted the transfer of 10,895 BTC from an unknown wallet. The transfer’s total value is currently around $508 million.

At $47,000, Bitcoin is the world’s most valuable digital currency. Bitcoin’s total market capitalization is around $880 billion. BTC’s crypto market dominance has increased by approximately 2% over the past five days. BTC now represents more than 44% in the crypto market total.


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