BitMEX Cryptocurrency Exchange Holds 0.18% of All Bitcoins in Circulation
The exchange that came under the supervision of the CFTC has more than 1% of all bitcoins on its accounts
The day before the accusations, the inflow of BTC to the exchange updated the six-month maximum
The activity on the exchange has already led to a collapse in the price of bitcoin
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There are more than 180 thousand bitcoins on the accounts of the BitMEX cryptocurrency exchange, which is more than 1% of the current number of all coins in circulation
The cryptocurrency exchange BitMEX, which has become the focus of the Commodity Futures Trading Commission (CFTC), has about one percent of all bitcoins in circulation. According to the blockchain data of the exchange wallet, there are more than 186 thousand BTC on the reserve balance of BitMEX ($ 1.95 billion at the current exchange rate), which is more than 1% of 18 million BTC in turnover.
Update. Over the past few hours, more than 32 thousand bitcoins (over $ 335 million) have been withdrawn from BitMEX.
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It is noteworthy that the day before the official charges against the key persons of BitMEX, the exchange recorded a six-month maximum inflow of bitcoin.
According to data on transactions on exchange wallets, on September 30, almost 8 thousand BTC (almost $ 84 million) were deposited on the exchange, which is a six-month peak in deposits. The last time such activity was observed was in March 2020, when traditional and cryptocurrency markets collapsed..
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Coincidence or not, just a couple of days before the official accusations of BitMEX in the insufficient fight against money laundering, the maximum volume in four months in BTC was also withdrawn from the exchange..
In just one day, September 29, more than 12 thousand (almost $ 126 million) were withdrawn from the exchange. The last time a crypto exchange recorded such an outflow of funds was at the end of April..
Harbinger of the storm
BitMEX is a frequent contributor to bitcoin price crash scandals. For example, 72,422 positions were liquidated in early August, with the largest liquidation recorded on BitMEX. In total, exchange traders closed positions on perpetual bitcoin swaps for about $ 10 million, which provoked a 12% fall in the largest cryptocurrency.
A similar correlation between the fall in the price of bitcoin and the liquidation of BitMEX longs was observed at the end of June 2020. Then the price of BTC / USDT fell by more than 6%.
At the time of this writing, the price of BTC / USDT is $ 10,495.
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