Analytics / Forex and Crypto News
On October 6, crypto whales transferred over $8 million from Bitfinex and $50 million from Huobi to Binance wallets. Some users saw this as a “local bottom” signal that would be worth buying.
Millions of dollars, of course, often move between exchanges. However, the recent transfer from Huobi to Binance has been particularly noteworthy:
“50 399 967 USDT ($50 572 438) were transferred from an unknown wallet to Binance”.
However, it later became clear that the amount was transferred from a hot wallet on the Huobi exchange. This means that someone, for unknown reasons, withdrew $50 million from Huobi to deposit it on Binance.
Another user, Samuel Gosling, also reported a similar transaction that occurred around the same time as the first. It was a transaction of $8,196,029 from a Bitfinex wallet to a Binance wallet. The question of whether there is a connection between these transactions remains open:
“Something strange is happening ... both recent transactions have diverted funds to Binance. Another $8 million transactions are from our friend Bitfinex.”
This is hardly a coincidence - two huge transactions from hot wallets to the same exchange during the day. Perhaps a major player decided to buy on a fall. It is also possible that this is a false buy signal to force investors to put up more long positions and liquidate them.
During November, ICO-projects sold 416K ETH. This is the largest figure since the summer, reports Trustnodes.
According to Santiment, in August, ICO startups sold only 100,000 ETH. In September, sales of digital currency increased significantly, reaching 300 thousand ETH. In Nov