$740 Million in Bitcoin Transferred to Huobi

Tue, 08/24/2021 - 09:44

$740 million in Bitcoin have been transfered to Huobi exchange

$740 Million in Bitcoin Transferred to Huobi

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More than $700 million in Bitcoin have been transferred to the Huobi exchange according to Chain.info. On Aug. 23, 15,000 BTC has been transferred to the exchange. According to the exchange, this is not an internal transaction between the exchange's wallets. The address belongs to some individual or organization.

Large exchange inflows usually indicate that private investors are looking forward to selling their holdings. Previously, U.Today reported that exchange inflows have increased with spending rates from 6-12-month-old Bitcoin wallets.

Current Bitcoin Bullish Trend Differs Highly from Previous One: Here's Why

Previously, the same wallet received 15,000 BTC on the same day of the exchange's transaction. According to the transaction history on the blockchain, the wallet has been spending received funds on the day it obtains them and not being used for long-term fundholding.

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Arman Shirinyan

Arman Shirinyan is a trader, crypto enthusiast and SMM expert with more than four years of experience.

Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with deep analysis of crypto projects and technical analysis of cryptocurrency trading pairs.