2023-05-07 11:56:26
On Friday, a massive amount of Bitcoin was transferred, the largest outgoing transfer of the year. worth nearly $240 million.
This move came during a period of market volatility. Especially in the group of meme coins that are becoming popular lately and the price has skyrocketed.
It is likely that these big bookmakers are making profits before the market crashes. This could be attributed to the Ethereum sell-off of Vitalik Buterin and the Ethereum Foundation.
The meme coin trading trend has caused huge volatility in the crypto market. Due to the popularity of meme coins making it attract investors into the crypto market resulting in a broader effect on the crypto market
The recent outflow of Bitcoin from exchanges suggests that bookmakers are concerned about the potential impact of the volatility of the meme coin. and moving assets to a safer location
The decision to sell Ethereum by Vitalik Buterin and the Ethereum Foundation has caused investors to worry about the potential decline in value.
As a result of these events, Bitcoin dealers are cautiously seeking to withdraw their money from the exchange. without causing market volatility
Source: U.Today
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