Huobi Miners Transfer 100,000 BTC After Chinese Government Crackdown Or maybe selling soon?

According to IntoTheBlock’s analysis data, mining Bitcoin of Huobi which is number eight in the world has moved Bitcoin Over 100,000 BTC after the Chinese government crackdown on the industry cryptocurrency

The team at IntoTheBlock has revealed that as a result of the recent tightening of crypto regulations within China, the world’s eighth largest Bitcoin mining hub Huobi has transferred massive amounts of Bitcoin.

However Pool It has moved closer to 100,000 BTC, representing $4.21 billion. This is the largest amount transferred by miners since late December 2017, when Bitcoin hit a record high of nearly $20,000.

IntotheBlock’s analysis believes the big change in Bitcoin This can be done to cover the withdrawals requested by Huobi customers as they are moving BTC from the exchange to the wallet.

Huobi waved goodbye to all chinese customers

over the last weekend The two largest cryptocurrency exchanges are Huobi and Binance It is facing intense pressure from mainland Chinese authorities at the moment.

over the last weekend News first surfaced that Huobi would suspend all new customer registrations from mainland China, and the next day the platform announced that it would gradually cease serving all users from the region following government pressure.

Binance is also in a dilemma right now. According to Chinese crypto news outlet 8BTCnews, the world’s largest exchange has stopped trading for new customers from China.

Chinese stock market closed down. But the employee resigned and was re-hired.

Chinese cryptocurrency journalist Colin Wu said that Huobi and Binance It’s not the only exchange facing regulatory pressure in China. The exchange, BiKi, where Huobi co-founder DuJun was an investor, announced the shutdown on November 30, where the platform plans to buy back coins from users.

Colin Wu also reported that in addition to BiKi, several Chinese exchanges have announced closures. However, he tweeted that headhunters are beginning to make offers to employees who leave those platforms. Because institutions are still working in the scope of crypto and expand

However, software engineers are still especially wanted by companies in the crypto industry because

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