Summary
- It has been confirmed that 3001 Bitcoins (BTC) were deposited to Bithumb.
- This amounts to approximately 425.3 billion KRW, which is a significant sum.
- Large deposits can increase selling pressure and heighten short-term volatility.
3001 Bitcoins (BTC) have been deposited to Bithumb.
According to the crypto asset (cryptocurrency) analysis firm CryptoQuant's alert, at around 18:57 on the 24th, 3001.22 BTC were deposited to Bithumb. This amounts to approximately 425.3 billion KRW. Earlier that day, Bithumb had transferred 16,096 BTC through a transaction presumed to be an internal wallet movement.
Typically, large deposits to an exchange can lead to an increase in selling pressure, which may cause short-term volatility.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
![[Key Economic & Crypto Calendar for the Week Ahead] US December PCE Price Index, and More](https://media.bloomingbit.io/static/news/brief_en.webp?w=250)
![[Analysis] "Binance’s XRP holdings fall to a two-year low…a signal of easing sell-side pressure"](https://media.bloomingbit.io/PROD/news/ddf35c9e-c582-4b4d-95b6-0c5b1673198d.webp?w=250)
