The overall exchange activity of Bitcoin has increased significantly since the start of this week amid a jump in the price of BTC. According to the recent data published by Santiment, leading crypto exchanges saw an inflow of approximately 1.68 million Bitcoin on Wednesday, August 25, 2021, which is the highest level since June 19, 2019. Cryptocurrencies have gained a lot of mainstream exposure this year.
Santiment highlighted a significant jump in the BTC whale activity.
In addition to the latest rise in Bitcoin exchange inflow, Santiment also highlighted a significant jump in the BTC whale activity. According to the company, Bitcoin whale addresses holding between 100 and 10,000 BTC added nearly 20,000 coins on Wednesday. August 25, 2021, remained one of the most active days in the history of Bitcoin. On Wednesday, a leading BTC whale account moved 6,000 BTC worth more than $290 million from the digital exchange, Binance, to the crypto wallet, Xapo. Bitcoin whales have been quite active since the start of this year.
Bitcoin witnessed its largest day of exchange inflow since June.
“Bitcoin just made history with its largest day of exchange inflow since June 19, 2019. These days are now tied for the largest inflow day of all time, both with 1.68M BTC flowing to exchanges on these respective days. Expect increased volatility,” Santiment noted. “The Exchange Net Flow metric shows that this week saw overall net inflows to exchanges as some traders and investors appear to be taking profits and capitalizing on market strength,” Glassnode mentioned in its latest on-chain analysis report. Earlier today, Whale Alert highlighted the movement of 10,895 BTC to an unknown wallet. The total value of the mentioned transfer currently stands at around $508 million.