{"id":634294,"date":"2024-08-09T14:00:35","date_gmt":"2024-08-09T14:00:35","guid":{"rendered":"https:\/\/wncen.com\/?p=634294"},"modified":"2024-08-09T11:42:23","modified_gmt":"2024-08-09T11:42:23","slug":"institutional-usdt-445-miliion","status":"publish","type":"post","link":"https:\/\/wncen.com\/usdt\/institutional-usdt-445-miliion\/","title":{"rendered":"Institutional Investor Sends $445 Million USDT To Exchanges, What Are They Buying?"},"content":{"rendered":"

Institutional investors<\/span><\/a> have already shown how bullish they are on Bitcoin (BTC) and the broader cryptocurrency market, as they have continued to accumulate with USDT, especially during every dip. This <\/span>bullish sentiment<\/span><\/a> was again on display as this institutional investor sent $445 million USDT to exchanges to buy more crypto.\u00a0<\/span><\/p>\n

Cumberland Sends $445 Million USDT To Exchanges<\/h2>\n

The on-chain analytics platform Lookonchain revealed in an X (formerly Twitter) <\/span>post<\/span><\/a> that <\/span>crypto trading firm Cumberland<\/span><\/a> has deposited the $445 million it received from the <\/span>Tether Treasury<\/span><\/a> into different exchanges. <\/span>Data<\/span><\/a> from the on-chain analytics platform Arkham Intelligence shows that Cumberland used the USDT funds to buy more crypto, with Bitcoin accounting for most of the firm\u2019s purchases in the last 24 hours.\u00a0<\/span><\/p>\n

Related Reading: Ripple Vs. SEC Lawsuit Ends: Will The XRP Price Cross $3 Once More?<\/a><\/div>\n

During this period, Cumberland has withdrawn a significant amount of Bitcoin from various exchanges, including <\/span>Coinbase<\/span><\/a>, Robinhood, and OKX, among others. This development coincides with the flagship crypto\u2019s recent break above $60,000, highlighting the increased buying pressure that Bitcoin has witnessed thanks to institutional investors like Cumberland.\u00a0<\/span><\/p>\n

The <\/span>Spot Bitcoin ETF issuers<\/span><\/a> have also bought a significant amount of Bitcoin in the last 24 hours, thanks to the net inflows recorded on August 8. Data from Farside Investors shows that these funds witnessed net inflows of $194.6 million that day. This was the second consecutive day of net inflows for these funds, having witnessed inflows of $45.1 million on August 7.\u00a0<\/span><\/p>\n

Some other investors, including retail investors, showed confidence in Bitcoin and the broader crypto market during this recent market crash. Lookonchain <\/span>noted<\/span><\/a> that <\/span>Binance<\/span><\/a> experienced a net inflow of $2.4 billion since the market drop on August 5. This includes a net inflow of $1.33 billion USDT and $519 million USDC, as these investors looked to buy more crypto and add to their positions.\u00a0<\/span><\/p>\n

What Next For Bitcoin?<\/h2>\n

Bitcoin is back above $60,000<\/span><\/a> following its drop below $50,000 on August 5. Considering there are still concerns on the macro side, there are fears that this Bitcoin rebound might be a relief bounce rather than a <\/span>bullish reversal<\/span><\/a>. However, crypto analyst Mikybull Crypto is <\/span>convinced<\/span><\/a> that Bitcoin has found its bottom and is set to enjoy an uptrend from here on.\u00a0<\/span><\/p>\n

Related Reading: Crypto Analyst Identifies Mid-Cap Altcoin Set To Surge 1,100%<\/a><\/div>\n

In a recent <\/span>X post<\/span><\/a>, he again alluded to the Volatility Index (VIX), which he noted gives all signs that the macro bottom is in. He remarked that the next markup phase will be \u201cviolent.\u201d In the meantime, Bitcoin holding above $60,600 will be key to confirming this bullish reversal. <\/span>Crypto analyst Rekt Capital<\/span><\/a> stated<\/span><\/a> that continued stability above this level would allow Bitcoin to revisit the $65,000 price level over time.\u00a0<\/span><\/p>\n

\"USDT
Source: X<\/figcaption><\/figure>\n

At the time of writing, Bitcoin is trading at around $60,900, up over 7% in the last 24 hours, according to <\/span>data<\/span><\/a> from CoinMarketCap.\u00a0<\/span><\/p>\n

\"Bitcoin
BTC price still above $60,000 | Source: BTCUSD on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Institutional investors have already shown how bullish they are on Bitcoin (BTC) and the broader cryptocurrency market, as they have continued to accumulate with USDT, especially during every dip. This bullish sentiment was again on display as this institutional investor sent $445 million USDT to exchanges to buy more crypto.\u00a0 Cumberland Sends $445 Million USDT To Exchanges The on-chain analytics platform Lookonchain revealed in an X (formerly Twitter) post that crypto trading firm Cumberland has deposited the $445 million it received from the Tether Treasury into different exchanges. Data from the on-chain analytics platform Arkham Intelligence shows that Cumberland used the USDT funds to buy more crypto, with Bitcoin accounting for most of the firm\u2019s purchases in the last 24 hours.\u00a0 Related Reading: Ripple Vs. SEC Lawsuit Ends: Will The XRP Price Cross $3 Once More? During this period, Cumberland has withdrawn a significant amount of Bitcoin from various exchanges, including Coinbase, Robinhood, and OKX, among others. This development coincides with the flagship crypto\u2019s recent break above $60,000, highlighting the increased buying pressure that Bitcoin has witnessed thanks to institutional investors like Cumberland.\u00a0 The Spot Bitcoin ETF issuers have also bought a significant amount of Bitcoin in the last 24 hours, thanks to the net inflows recorded on August 8. Data from Farside Investors shows that these funds witnessed net inflows of $194.6 million that day. This was the second consecutive day of net inflows for these funds, having witnessed inflows of $45.1 million on August 7.\u00a0 Some other investors, including retail investors, showed confidence in Bitcoin and the broader crypto market during this recent market crash. Lookonchain noted that Binance experienced a net inflow of $2.4 billion since the market drop on August 5. This includes a net inflow of $1.33 billion USDT and $519 million USDC, as these investors looked to buy more crypto and add to their positions.\u00a0 What Next For Bitcoin? Bitcoin is back above $60,000 following its drop below $50,000 on August 5. Considering there are still concerns on the macro side, there are fears that this Bitcoin rebound might be a relief bounce rather than a bullish reversal. However, crypto analyst Mikybull Crypto is convinced that Bitcoin has found its bottom and is set to enjoy an uptrend from here on.\u00a0 Related Reading: Crypto Analyst Identifies Mid-Cap Altcoin Set To Surge 1,100% In a recent X post, he again alluded to the Volatility Index (VIX), which he noted gives all signs that the macro bottom is in. He remarked that the next markup phase will be \u201cviolent.\u201d In the meantime, Bitcoin holding above $60,600 will be key to confirming this bullish reversal. Crypto analyst Rekt Capital stated that continued stability above this level would allow Bitcoin to revisit the $65,000 price level over time.\u00a0 At the time of writing, Bitcoin is trading at around $60,900, up over 7% in the last 24 hours, according to data from CoinMarketCap.\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":634321,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[92872],"tags":[6664,15561,10923,14690,1558,1564,14040,90500,10263,91242],"class_list":["post-634294","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-usdt","tag-crypto","tag-crypto-adoption","tag-crypto-market","tag-crypto-news","tag-cryptocurrency","tag-cryptocurrency-market","tag-institutional-investors","tag-institutional-investors-crypto","tag-usdt","tag-usdt-news"],"acf":[],"yoast_head":"\nInstitutional Investor Sends $445 Million USDT To Exchanges, What Are They Buying?<\/title>\n<meta name=\"description\" content=\"Institutional investors have already shown how bullish they are on Bitcoin (BTC) by sending USDT to crypto exchanges.\" \/>\n<meta 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/wncen.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Institutional Investor Sends $445 Million USDT To Exchanges, What Are They Buying?","url":"http:\/\/wncen.com\/usdt\/institutional-usdt-445-miliion\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/usdt\/institutional-usdt-445-miliion\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/08\/USDT-.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/08\/USDT-.jpeg?fit=1792%2C1024"},"articleSection":"USDT","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["crypto","crypto adoption","crypto market","crypto news","cryptocurrency","cryptocurrency market","institutional investors","institutional investors crypto","usdt","usdt news"],"dateCreated":"2024-08-09T14:00:35Z","datePublished":"2024-08-09T14:00:35Z","dateModified":"2024-08-09T14:00:35Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Institutional Investor Sends $445 Million USDT To Exchanges, What Are They Buying?\",\"url\":\"http:\\\/\\\/wncen.com\\\/usdt\\\/institutional-usdt-445-miliion\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/usdt\\\/institutional-usdt-445-miliion\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/08\\\/USDT-.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/08\\\/USDT-.jpeg?fit=1792%2C1024\"},\"articleSection\":\"USDT\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"crypto\",\"crypto adoption\",\"crypto market\",\"crypto news\",\"cryptocurrency\",\"cryptocurrency market\",\"institutional investors\",\"institutional investors crypto\",\"usdt\",\"usdt news\"],\"dateCreated\":\"2024-08-09T14:00:35Z\",\"datePublished\":\"2024-08-09T14:00:35Z\",\"dateModified\":\"2024-08-09T14:00:35Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/08\/USDT-.jpeg?fit=1792%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/634294"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=634294"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/634294\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/634321"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=634294"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=634294"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=634294"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}