Over 47 million dollars of Bitcoin has just been transferred to Binance

A few hours ago, an anonymous whale wallet transferred a large amount of Bitcoin to the Binance exchange.

According to the Whale Alert platform, transactions up to 1000 BTC were made on August 16, at 10:24 (GMT+7).

Note, the term ‘whale’ refers to an investor who owns a large number of assets. Therefore, many watchers fear that if this $47 million BTC is sold off on the Binance exchange, it could cause a local wave of volatility.

Elsewhere, Bitcoin mining difficulty skyrocketed as the market rallied continuously.

Specifically, the mining difficulty has recorded an increase of 13.77% with two consecutive passes of 15 Terahashes (TH) since mid-June. The next adjustment is expected to take place on August 27, aims to raise the mining difficulty to around 15.63TH.

Mining difficulty peaked at 25TH before China launched its crackdown on mining operations.

The sharp decline in the number of miners in China has reduced the level of conflict in confirming blocks. This allows miners in other places to earn more.