Major Bitcoin Whales Abandoning Crypto Exchanges
According to the exchange-whale ratio, bitcoin whales, or individuals who hold large amounts of the cryptocurrency, appear to be gradually withdrawing from crypto exchanges.
This metric, which is calculated by dividing the total BTC amount of the top ten transactions by the total BTC amount flowing into exchanges, has dropped to around 0.3, a level not seen since March.
Large bitcoin holders appear to be hoarding or transferring their assets to other types of investments or private wallets. The exchange-whale ratio is mostly used to identify the exchanges that these so-called whales prefer. The relative size of the top ten inflows to total inflows reveals where the big players are most active.
This behavior can lead to potential risks for some traders while simultaneously opening opportunities for arbitrage.
(With inputs from Shikha Singh)
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