Approximately 18,000 bitcoins (BTC) has recently been transferred to the purse, which, presumably, is associated with BitMEX, a major cryptocurrency trading platform. According CryptoCompare, the total value of these coins now exceeds 114 million dollars.
Seventeen different cryptocurrency wallets have been involved in this major transfer BTC: the first transaction took place at 4:50 am new York time, the transfer was made 10 BTC on cryptocurrency wallet that is associated with BitMEX. Less than half an hour 16 media gave the same address a total of 17,990 BTC.
A number of Twitter users suggested that cryptocurrency trading platform BitMEX may be involved in the market manipulation. It is noteworthy that the massive consolidation of bitcoins to the wallet BitMEX happened just a few hours before the price of the flagship cryptocurrency has recovered from a drop below $ 6,000.
Although many cryptocurrency exchanges nor been accused of attempts to manipulate market prices, in this case that seems unlikely since 18 000 BTC to the wallet BitMEX only 0.1% of all bitcoins in circulation currently. Often crypto “whales” such as a Trustee of Mt Gox, Nobuaki Kobayashi, appeal larger amounts.
In the case of BitMEX it seems that the platform is trying to bring a large number of coins on a cold wallet for security reasons. Bithumb, lost because of a burglary of $ 30 million in June, has already done something similar.
Another possible reason BitMEX moves a huge amount of coins, may be to attempt to increase liquidity on the exchange.