[NewsFlash]: $1 Billion Dollars in Bitcoin is Moving Between Bitfinex and Binance
It seems that $1 billion worth of Bitcoin are being moved by a user between Bitfinex and Binance, two important virtual currency exchanges. We are talking about 111,114 BTC that were dormant since the year 2014.
The funds were located in this address that later has been moving the coins to other wallets. The situation was discussed on Reddit in several occasions. The last time has been presented by sick_silk, who created a graphic to see the transactions originated from the wallet.
11,114 BTC have been transferred to Bitfinex. Most of these coins were moved in the last 7 days, between August 24 and September 2.
At the same time, 4,421 BTC were moved to the Binance wallet. These transactions were performed in the last 10 days, between August 21 and September 2.
Bitmex received just 210 BTC. A smaller number compared to the funds sent to Binance and Bitfinex the exchanges.
This could have an important impact in the price of the famous virtual currency, Bitcoin. In the last days, Bitcoin has increased in value, and the whole market followed behind. Now Bitcoin is being traded close to $7,200 dollars and has a market capitalization of $125 billion dollars.
Some users in Reddit were asking why a 3 days-old user in the famous social network is investigating everything about these wallets. The users were asking which were the intentions behind the research. However, there is no clear answer about it.
We will have to wait a little bit longer to understand why the Reddit user is doing this investigation and if the funds moved to these exchanges has a deep impact in the market.