Kraken reports a whopping influx of nearly 15,000 BTCs
Kraken reports a whopping influx of nearly 15,000 BTCs
Cryptocurrency exchange Kraken has reported the largest Bitcoin deposit in the exchange's history. The crypto community is expressing interest in the reasons and purposes of such a large-scale transaction, wondering: will the price of BTC get a boost from this?
The U.S. crypto exchange added a Bitcoin asset to its reserves today, becoming the largest in several years. Kraken recorded an impressive inflow of 14,924 Bitcoins. It is worth noting that such a large transaction occurred when the BTC price jumped 5% from last week's prices.
The massive BTC inflow, which was the largest inflow since 2018, confirms speculation about a possible rise in the price of the major cryptocurrency to $30,000. Historically, such investments on the exchanges have been associated with spikes in Bitcoin prices in the near future.
If the $30,000 milestone is passed, it could be a psychological trigger for the crypto market to take another sharp growth spurt, according to Coingape.
Currently, the bearish sentiment in the cryptocurrency market is marking a slight weakening of crypto assets. However, the recent news of the U.S. SEC's failures in the cases against Grayscale and Ripple is creating optimism for a new wave of cryptocurrency growth. The launch of spot ETFs on Ethereum and the possibility of spot ETFs on Bitcoin are also contributing to this. However, the SEC-XRP litigation could last until 2025.
Read also: Positive news in the standoff with the SEC led to a 5.2% rise in the asset.
