According to the data shared by Whale Alert, which shares current data on large-scale transactions carried out by addresses known as ‘whales’ in the crypto ecosystem and holding large amounts of crypto assets in their portfolios, high amounts of BTC inflows were recorded on crypto exchanges yesterday. In just a few hours, over 5500 BTC were transferred to the crypto exchange Coinbase.
Current Situation in the Crypto Market
Although the crypto market started the weekend with a decline, it rebounded during the day. The leading cryptocurrency Bitcoin (BTC) approached the $26,000 levels significantly with its recent price movements.
According to CoinMarketCap (CMC) data, Ethereum (ETH) recorded an average increase of 0.85% in the last 24 hours and started trading at around $1630. Most altcoins in the crypto market experienced a renewed rise due to the price increases in BTC.
Furthermore, the trading volumes in the crypto market also declined again on the first day of the weekend. While Bitcoin saw a decrease of nearly 35% in its total trading volume in the last 24 hours, the total trading volume of the crypto market decreased by an average of 30%.
Over 5500 BTC Transferred to Coinbase in a Few Hours
According to the data shared by Whale Alert, high amounts of BTC inflows were recorded on crypto exchanges yesterday. Over 5500 BTC, worth an average of $140 million, were transferred to the crypto exchange Coinbase.
Yesterday, 2915 BTC were transferred from an unknown address to the crypto exchange Coinbase, while 2603 BTC were also transferred from another unknown address to Coinbase on the same day. Thus, over 5500 BTC were transferred to the crypto exchange Coinbase within a few hours.
