[HN Gopher] Whale buys $1.6B worth $BTC within 5 minutes
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       Whale buys $1.6B worth $BTC within 5 minutes
        
       Author : andreygrehov
       Score  : 5 points
       Date   : 2021-10-06 21:01 UTC (1 hours ago)
        
 (HTM) web link (www.cryptopolitan.com)
 (TXT) w3m dump (www.cryptopolitan.com)
        
       | DaiPlusPlus wrote:
       | It could just be an institutional investor moving coins between
       | wallets, couldn't it?
        
         | qeternity wrote:
         | No, these were market orders on an exchange.
        
       | moralestapia wrote:
       | >According to a very recent analysis by Ki Young Ju, a market
       | analyst, a whale has bought $1.6 billion worth BTC via market
       | orders in just five minutes.
       | 
       | This is interesting as it implies 1.6B of fiat moved hands
       | (unless it came from other tokens which I doubt), very hard to
       | pull that off while avoiding KYC.
       | 
       | I remark this as usually the 'whale' term implies some sort of
       | anonymity as in "we only know a lot of tokens moved".
        
         | davidgerard wrote:
         | It also doesn't say if it was dollars or a dollar-substitute
         | token.
        
         | qeternity wrote:
         | > This is interesting as it implies 1.6B of fiat moved hands
         | (unless it came from other tokens which I doubt)
         | 
         | No fiat, just Tether.
         | 
         | It was most likely not one single actor, nor was it likely a
         | bonafide purchase. This was meant to rip the market higher and
         | liquidate shorts.
        
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       (page generated 2021-10-06 23:01 UTC)