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    Home » Ethereum wallet of Bitfinex exchange almost half empty

    Ethereum wallet of Bitfinex exchange almost half empty

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    By BlockchainJournal on May 3, 2019 News
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    According to the observations of Twitter user Andrew Rennhack, during the week the contents of the cold Ethereum wallet of the Bitfinex exchange decreased by 40%.

    Bitfinex ETH coldwallet has declined by 40% in the past week. 800k ETH or $ 150M has left. There is only 1.1M ETH left or ~ 180M USD left at current ETH prices (which will be higher). This is a good old fashioned bank run folks. https://t.co/PFnREzo7v6 pic.twitter.com/7pHTAAJR1z

    – Andrew Rennhack (@ andr3w321) 1st of April 2019 p.

    According to him, within seven days, 800,000 ETH worth about $ 150 million was withdrawn from the Bitfinex wallet. About 1 , 1 million ETH remained in the wallet for a little over $ 180 million at the current rate.

    “This is a good old banking panic, guys,” the author of tweet shared his opinion.

    According to TokenAnalyst , by now the outflow of funds into Ethereum from Bitfinex has apparently stopped:

    In the last 24 hours, the inflow of funds into Ethereum on Bitfinex is approximately equal to the outflow

    However, the outflow of funds in BTC from this exchange continues:

    Over the past 24 hours, the inflow of BTC to Bitfinex was $ 37.8 million; outflow – $ 50.2 million

    Also note that the rate of Ethereum on Bitfinex is noticeably higher than on other trading platforms:

    Data: CoinMarketCap

    As for Bitcoin, then on the Bitfinex exchange, the price of BTC today peaked at $ 6145. At the same time, the maximum price for Bitstamp was $ 5,796 .

    The most active funds in Bitcoin and Ethereum were withdrawn from Bitfinex on April 26, when news of coverage of losses of $ 850 million at the expense of steblcoin Tether spread. Then over 12 hours, Bitfinex brought more than $ 300 million in Bitcoins and Ethereum

    Also earlier, BlockchainJournal reported that as early as next week Bitfinex could launch IEO , available only to qualified investors. Presumably, with the help of borrowed funds, the Hong Kong Stock Exchange intends to compensate for the frozen $ 850 million.

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