Largest daily bitcoin inflows to crypto exchanges in four years recorded

On June 14, traders deposited 59 376 BTC to the platforms, the previous high was recorded on November 30, 2018

15.06.2022 - 12:15

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What’s new? On June 14, traders deposited 59 376 bitcoins ($1,25 billion at the June 15 rate, according to Binance) to cryptocurrency exchanges, according to the analytics platform CryptoQuant. This is the largest inflow of BTC to platforms since November 30, 2018. The growing selling pressure may be due to the fact that the first cryptocurrency’s rate dipped as low as $20 181 on that day. As of June 15, 12:00 UCT, the asset is trading at $21 104.

CryptoQuant’s data

Previous high. On November 30, 2018, the net inflow to the crypto exchanges amounted to 83 481 BTC. About a month later, the BTC/USD rate reached its bottom at $3156.

On June 13, the bitcoin network hashrate updated the maximum and amounted to 231,4 EH/s, according to blockchain.com. This came after the price of BTC dropped below $25 000 for the first time since December 2020. The first cryptocurrency’s mining difficulty reached a figure of 30,28 T.

In early June, the flow of large miners to crypto exchanges peaked since January 2022. According to Compass Mining, cryptocurrency mining became less profitable and its participants started selling their assets to cover power expenses

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