Each cryptomoney exchange is a kind of universe in itself, and in each one it moves different amounts of money. However, one of the most important is OKEx, and in this article we’ll tell you a little more about what the Bitcoin whales did on their platform last month.
OKEx reports quite a few Bitcoin whale movements
To be exact, this exchange recorded over 8,000 movements of Bitcoin attributable to whales, because of the size of the whales. In this case, Kaiko monitoring began counting the operations of 10 BTCs. As for the time frame, it was said to be during the course of June.
According to previous reports from CryptTrend on Bitcoin whale activity, this information from OKEx can be easily corroborated. It can even be said that this activity was more constant in the first two weeks of June.
What is interesting here is that of all the exchanges, the one that had more activity than any other was OKEx. However, as the month progressed the Bitcoin whales were not exactly active, and Bitcoin remained in a fairly narrow range of variation. There was even talk of a side market.
Now, if we look more closely, we can see that the direction in which the Bitcoin whales were trading was to buy into OKEx. The number of whales they bought was almost double the number of whales that placed sell orders.
One possible explanation is that sellers tend to be more conservative and split their orders into smaller packages.
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What other activities did crypto whales have?
Now, in terms of the activity of crypto whales in general, it can be said that whales are also attracted to USDT. Specifically, in OKEx there was a lot of activity with the BTC-USDT pair and even more than with The News Spy pair.
This could be due to the frictionless nature of crypto to crypto trading versus crypto to trust money trading.
If you are wondering why these trades were conducted on OKEx and not another exchange, there are many factors that could have influenced the whales‘ preference.
Whether it is the BTC sales price, the availability of sellers and buyers, or the transparency and speed of the exchange itself. The truth is that OKEx is one of the most popular and well-known.