Huobi, one of the largest cryptocurrency exchanges in the world, has been experiencing a noticeable increase in the amount of Bitcoin (BTC) in the stock exchange since the beginning of 2019.
Are Chinese Collecting Bitcoin?
While the amount of BTC in Huobi's cold storage wallets has increased tremendously since last year, it seems that other exchanges are lagging behind. The cold storage wallet of the stock exchange flooded by Chinese investors even surpassed the balance of the cold storage wallet of the Bitfinex cryptocurrency exchange.
This shows that Huobi is now rising to the position of the biggest Bitcoin whale. No matter what direction the crypto money market goes, the increase in the amount of BTC in Huobi also shows confidence in the market. The amount of Bitcoin in Huobi's wallet has increased by more than 150% since January 2019. It is stated that the total amount of BTC in Huobi's wallet has exceeded 255.501.15.
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Binance, which is among the best crypto exchanges, seems to have counted in the face of this increase. Binance CEO Changpeng Zhao also commented on the related tweet and stated that the reason for the BTC increase in Huobi is Chinese investors.
According to CZ, Huobi attracts more Chinese investors and has more Chinese Yuan nominal money channels. This shows that China is collecting serious BTC.
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