"Bitcoin miners transfer 3,726 BTC to major exchanges... Worth approximately ₩588.3 billion"
Minseung Kang
Summary
- Bitcoin miners have reportedly transferred a large amount — 3,726 BTC — to major exchanges.
- The total transferred amount is said to reach approximately ₩588.3 billion.
- Large-scale coin deposits into exchanges can lead to increased selling pressure and may further fuel short-term volatility.
It has been reported that Bitcoin (BTC) miners have transferred a large amount of Bitcoin to major virtual asset (cryptocurrency) exchanges.
According to an alert from the virtual asset (cryptocurrency) analytics platform CryptoQuant on the 25th, miners sent 3,726.55 BTC to virtual asset exchanges at around 18:24 on this day. This amounts to approximately ₩588.3 billion.
Typically, large deposits of coins into exchanges can lead to an increase in selling pressure, which may result in short-term volatility.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
