WBTC Up After Large Transactions Impacted Exchange Supply
Share:
Predictions Markets
See what traders are focused on
- WBTC has been seeing a lot of activity after actions from whales resulted in a drop in exchange supply.
- At press time, WBTC was worth $29,595.75 after its price climbed by more than 2% over the past day.
- A daily close today above the 20-day EMA line could see WBTC’s price climb to above $30K.
Wrapped Bitcoin (WBTC) is seeing a lot of activity today after two 2,000 WBTC moves resulted in a drop in exchange supply, according to a post shared on Twitter by the on-chain analytics platform Santiment. Subsequently, CoinMarketCap indicated that WBTC was trading hands at $29,595.75 after its price rose by 2.35% over the past day of trading.
— Santiment (@santimentfeed) August 1, 2023
#WrappedBitcoin is seeing major activity today after a pair of 2,000 $WBTC moves that resulted in a drop in exchange supply. On-chain transaction volume is at its highest level in over a month. This is especially relevant in how $BTC can be impacted. https://t.co/aqOhP6haek pic.twitter.com/fFaViXW2MC
This meant that WBTC was trading a tad closer to its daily high of $29,915.97 than its 24-hour low of $28,740.91. Santiment also pointed out that WBTC’s transaction volume was at it…
The post WBTC Up After Large Transactions Impacted Exchange Supply appeared first on Coin Edition.
Read More
Galaxy Digital Moves $160M in Bitcoin to Exchanges, Sparking Sell-Off Speculation
