Bound whales move $ 432,000,000 in crypto, analyst predicts big mileage on Horizon

Crypto whales passed through the exchange and Tether exchanges (USDT) for hundreds of millions of dollars over the weekend as bitcoin soared to its highest prices in more than a month.

BTC was trading at $ 38,286.06 at the time of writing, but rose 42 percent to $ 628.50 over the weekend, according to CoinGecko.

 
On Sunday, unknown wallet received more than USDT $ 153.14 million from the credit creation platform (COMP) in three separate transactions, according to a report by Crypto tracker Whale Alert. Ethereum blockchain explorer Etherescan shows that the asset behind the wallet is a deep-pocketed crypto holder that mixes hundreds of millions of dollars from USDT to composition and composition.

In October, six separate unknown wallets over the weekend sent fixed coins to crypto exchanges, worth more than $ 279 million.

$ 22,045, 951 us $ 22.04 million sent to OKEx from an unknown wallet
Us $ 32,519, 271 of $ 32.51 million sent to Huobi from an unknown wallet
$ 50 013 043 of $ 50 million sent to Binance from an unknown wallet
$ 41,675,766 of $ 41.67 million sent to Binance & # 39; a from an unknown wallet
$ 50 million of $ 50 million sent to Binance from an unknown wallet
$ 80,180,359 worth $ 80,180,359 sent to Binance from an unknown wallet

However, despite these big moves, popular crypto trader and analyst Michael van de Popp reports to his 361,300 Twitter followers that the Bitcoin supply rate (SSR) remains low.

The SSR measures the relationship between bitcoin delivery and fixed coin delivery.Dec. The low SSR indicates that stable coins in circulation have more purchasing power to buy BTC, according to Blockchain analyst company Glassnode.

Explains Van de Poppe,

“Bitcoin supply ratio: fixed currencies (SSR) are still at their lowest level. That means there’s tons of liquidity ready to be pushed into roadside markets. We have another big race ahead of us.”

Source: Glassnode
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