Whale Alert report says that an amount of 12M USDT has been sent to the Binance account.
According to the whale alert report, the actual amount that is transferred to the Binance exchange is 11,988,000 USDT.
🚨 11,988,000 #USDT (11,977,149 USD) transferred from unknown wallet to #Binance
— Whale Alert (@whale_alert) October 10, 2019
And whale alert also says that the address from which this amount has been sent is not known. However, the transfer is indirectly linked with the TRON network. But according to the whale alert, the address of this huge amount transfer is not still identified.
This transfer of USDT into the Binance exchange clearly shows that the crypto market is maintaining its bullish momentum that it has gained recently.
Crypto traders and investors are anticipating about this transfer differently. Some say that this transfer of 12M USDT is a sign of an upcoming altcoin spike.
According to the crypto experts, the other cryptocurrencies are moving rapidly in the upward direction than the world’s leading cryptocurrency Bitcoin. Though the price of BTC is trading above the figure $8600, other digital assets or altcoins are also following Bitcoin.
Apart from the transfer of the USDT into the Binance exchange, another transfer is also noticed. According to whale alert, an amount of 1200 BTC that is worth of 10,289,078 USD is moved from an unknown wallet to the Bitstamp exchange.
🚨 1,200 #BTC (10,289,078 USD) transferred from unknown wallet to #Bitstamp
— Whale Alert (@whale_alert) October 10, 2019
Whale alert explains that the main purpose behind this transfer is to dump BTC coins. But it is not said by the whale alert that what effects this transfer of BTC will have on the cryptocurrency market.
These two huge deposits have made difficult for the crypto whales to think about the future of the cryptocurrency market. Crypto whales are not completely sure about the future of the market.
Crypto whale says that for the current time, we are unable to predict the future of the crypto market but one thing is for sure that the bullish momentum of the crypto market is still standing straight.
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