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Why are Bitcoin whales in Korea promoting? By Cointelegraph

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One other $84M deposit begs the query: Why are Bitcoin whales in Korea promoting?

(BTC) whales in South Korea have been promoting closely throughout main exchanges all through the previous week. Information exhibits that a number of $100 million deposits to Bithumb have been noticed within the final three days alone.

By quantity, South Korea has a a lot smaller cryptocurrency alternate market in comparison with the US. But, South Korea’s cryptocurrency exchanges have seen huge inflows which are comparable with different main markets.

1-day candle chart (Binance). Supply: TradingView.com
Korea premium index. Supply: CryptoQuant
MVRV Z-Rating. Supply: Twitter @PositiveCrypto