Each cryptocurrency exchange is a kind of universe in itself, and each one moves different amounts of money. However, one of the most important is OKEx, and in this article we will tell you a little more about what the activity of Bitcoin whales was on their platform last month.
OKEx reports quite a few movements of Bitcoin whales
To be exact, this exchange registered more than 8,000 Bitcoin movements attributable to whales, due to their size. In this case, Kaiko’s monitoring started counting 10 BTC operations. As for the lapse, it was said that it was during the course of June.
According to previous reports from CryptoTrend on the activity of Bitcoin whales, this information about OKEx can be easily corroborated. It can even be said that this activity was more constant in the first two weeks of June.
The interesting thing 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 analyze in more detail we can notice that the sense in which the Bitcoin whales these operations was of purchase within OKEx. The number of whales they bought was almost double that of those who placed sales orders.
One possible explanation is that sellers tend to be more conservative and divide their orders into smaller packages.
What other activities did crypto whales have?
Now in terms of crypto whale activity in general it can be said that whales are also attracted to USDT. Specifically, at OKEx there was a lot of activity with the BTC-USDT pair and even much more than with the BTC-USD pair.
This could be due to the frictionless nature of crypto-to-crypto trading versus crypto-to-fiat trading.
If you wonder why these operations were carried out on OKEx and not on another Exchange, there are many factors that could have influenced the preference of the whales.
Be it the sale price of BTC, the availability of sellers and buyers, or the same transparency and speed of the exchange. The truth is that OKEx is one of the most popular and well-known.