Main navigation

Whales Grab Bitcoin Dip as 2.37 Billion USDT Deposited to Exchanges on Friday

News
Sat, 04/24/2021 - 10:47
article image
Yuri Molchan
Recent analytics data shows that on Friday, 2.37 billion USDT was sent to crypto exchanges – the currency often used for acquiring Bitcoin
Whales Grab Bitcoin Dip as 2.37 Billion USDT Deposited to Exchanges on Friday
Cover image via stock.adobe.com
Read U.TODAY on
Google News

Glassnode chart shared by the Moskovski Capital CIO shows that whales have deposited an eye-popping 2.37 billion USDT to crypto exchanges to buy the dip while Bitcoin is trading below $49,500 after the pullback.

Whales are buying the Bitcoin dip

According to Glassnode analytics, financial institutions and other whales have transferred an eye-twitching amount of USDT to digital exchanges to catch Bitcoin while it has fallen down below the $50,000 line.

Related
Elon Musk Believes that Future Definitely HODLs Some Crypto - Is It DOGE or Bitcoin?

Second biggest total USDT deposit after Tesla Bitcoin announcement

This is the second biggest amount of USDT deposited to trading platforms this year to buy BTC. The biggest one took place on February 3, before Elon Musk announced (February 8) that Tesla would be allocating $1.5 billion to put some Bitcoin on its balance sheet.

Prior to that, almost 3,5 billion USDT was sent to crypto exchanges.

On March 24, an announcement followed that car producer would be accepting BTC as payment for automobiles and it will not be converted into fiat.

7349_0
Image via Twitter
article image
About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.