OKEx alternate recorded over 8,000 “whale” Bitcoin (BTC) trades in June; greater than some other alternate. It additionally had the glory of record
OKEx alternate recorded over 8,000 “whale” Bitcoin (BTC) trades in June; greater than some other alternate. It additionally had the glory of recording the biggest such commerce — 513.1 BTC based on knowledge from Kaiko.
Variety of Bitcoin whale (≥10 BTC) trades by alternate. Supply: Kaiko.
Whales desire USDT over USD
In Kaiko’s nomenclature, “whale” trades are 10 BTC and above. OKEx additionally led when it comes to common whale commerce dimension, which was simply above 33 BTC. Extra massive trades are occurring on exchanges that assist BTC-USDT pairs than BTC-USD pairs:
“This report additionally reveals that extra whale trades are made on exchanges that assist BTC-USDT in contrast with exchanges that assist the BTC-USD pair.”
This may very well be because of the frictionless nature of the crypto-to-crypto trades versus crypto-to-fiat trades.
Common Bitcoin whale commerce (≥10 BTC) by alternate. Supply: Kaiko.
OKEx is a “purchaser’s” alternate
Apparently, the amount of whale purchase orders on OKEx was nearly double of the promote orders. It isn’t clear why there’s such a distinction in purchase and promote orders. One doable rationalization is that the sellers are usually extra conservative and break their orders into smaller parcels — beneath 10 BTC.
Quantity of purchase & promote whale Bitcoin trades (≥10 BTC) by alternate. Supply: Kaiko.
Not too long ago, OKEx CEO Jay Hao instructed Cointelegraph that in his opinion, the important thing to success lies in customer support. It looks like the “whales” concur.