Over $170M Withdrawn From Bitfinex in 12 Hours

According to some thoughts, this is a result of recent New York State Attorney General charges
26 April 2019   231

Over the past 12 hours, almost 19k BTC (more than $ 98 million at the current exchange rate) were withdrawn for unknown addresses, along impressive amounts in the ETH.

The first such large transaction at 3,999 BTC, was completed at 10:43:55 UTC on Thursday, April 25th.

Following it, another 13,377 BTC was withdrawn from the exchange on Friday morning, and then another 1,580 BTC.

The total number of coins withdrawn in these three major transactions thus amounted to 18,956 BTC.

For the same period, large sums in ETH were withdrawn from Bitfinex to unknown wallets.

There were six transactions with ETH, which Whale Alert drew attention to, and the total number of coins reached 501,864 ETH ($ 76.5 million at the current exchange rate). In addition, transactions were observed at 7.137.903 XRP ($ 2 million) and 1,500 MKR ($ 738.7 thousand).

It is not known whether all these transactions were initiated by the exchange itself or its users.

Bitcoinist believes that the reason for this situation is recent charges of covering $850M loss, brought by New York State Attorney General. The exchange itself denies these allegations, but the publication assumes that investors holding large sums on Bitfinex decided to withdraw them.

BTC Invesment Profitability to Exceed Traditional Assets

This conclusion was made by Binance Research team in study "What Bear Market?"; since begining of the year the BTC has grown by more than 50%, while oil by 33%
08 May 2019   321

Since the beginning of the year, Bitcoin has grown faster than traditional market assets, including oil, technology companies, real estate and gold. This conclusion was made by Binance Research in the new study "What Bear Market?"

Since the beginning of the year, the price of Bitcoin has grown by more than 50%, while oil - by 33%, tech stocks - by 18%. The price of gold in five months slipped by 1%.

Recently, however, some factors have emerged that may put pressure on the price of Bitcoin. Thus, the recovery of BTC growth slowed down somewhat amid news of a hacker attack on the popular Binance exchange itself, as a result of which 7,000 BTC ($ 40.5 million) were stolen.

Another potentially negative factor for the price of Bitcoin could be the upcoming IEO of the Bitfinex exchange, where Tether stablecoins will be used to purchase LEO tokens for $ 1 billion. It can lead to situation when large players can may actively sell BTC.