The outflow of funds from Bitfinex, BitMEX and Kraken exceeded inflow by $ 622 million

The outflow of capital from cryptocurrency exchanges, including Bitfinex, BitMEX and Kraken, has exceeded inflows by $ 622 million over the past five days, reports Bloomberg, citing data from TokenAnalyst analyst.

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According to TokenAnalyst, since April 26, when the New York Prosecutor’s Office brought charges against the Bitfinex exchange, the site’s wallets left more than $ 1.7 billion in Bitcoins and Ethereum.

The rise in Bitcoin price, according to Bloomberg, could have been caused by the desire of investors to withdraw assets from Tether’s steblcoin in the center of the trial in the first cryptocurrency.

In general, during this period Bitcoin on Bitfinex was trading at 6% higher than at other sites, however, after attracting $ 1 billion by the exchanges during IEO, the discrepancy disappeared.

“Smart customers do not store funds on the exchanges, but in their own wallets. This factor can continue to exert upward pressure on Bitcoin, so people prefer to acquire it, getting rid of fake money, ”said John Griffin, a professor of finance at the University of Texas at Austin.

Recall that in April 2019, BitMEX Research researchers concluded that the outflow of funds from the Bitfinex exchange for several days amounted to $ 585 million .

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