Whales Dive Back in After Monday’s Bloodbath as Market Rebounds
- Bitcoin rebounds from $49K to $56K with increased activity from large investors.
- Whales move $623M in USDT and USDC, suggesting new funds flow back into the crypto scene.
- Binance CEO Richard Teng confirms a net inflow of $1.2 billion.
After a challenging Monday for crypto investors when Bitcoin hit $49K, a significant recovery march is now at large, and BTC has reclaimed $56K today. As the market recovery continues to build momentum, whales or large pocket investors are increasingly becoming active in the crypto market.
Today, blockchain tracker Whale Alert called attention to the movement of $373,655,324 USDT tokens in one transaction from an anonymous wallet to Binance, the largest crypto exchange.
In a more recent update, Whale Alert documented the movement of $250 million in USDC stablecoin, which was freshly minted at Circle’s Treasury. This transaction closely followed one $50 million in USDC minted 12 hours ago.
— Whale Alert (@whale_alert) August 6, 2024
Before now, the crypto community last witnessed significant minting of USDC stablecoin on Aug…
The post Whales Dive Back in After Monday’s Bloodbath as Market Rebounds appeared first on Coin Edition.
