EUROPE AND USA TRANSFER BILLIONS OF DOLLARS IN CRYPTO
According to the latest Blockchain data, the German and US governments continue to transfer Bitcoin and Ethereum. On the other hand, the data shows that miners are facing less selling pressure.
The governments of Germany and the US have transferred millions of dollars worth of Bitcoin and Ethereum today, according to data from Arkham Intelligence. Over the last two weeks, the German government has sent more than 2,700 Bitcoins worth over $200 million to public crypto exchanges. This was one of the developments that contributed to Bitcoin's decline in June.
Wallets tracked by Arkham Intelligence sent another 400 of the 1,500 BTC worth $94 million to BitStamp, Coinbase (COIN) and Kraken, most recently today. The remaining Bitcoins were transferred to an anonymous wallet. After these transfers, it was reported that the German government had 44,692 BTC worth $2.82 billion in its wallet. According to the latest situation, it seems that the government has started to empty its BTC portfolio with gradual sales. It remains unclear how long these transfers will last.
It was seen that the US government came to the agenda with Ethereum transfers today. The US transferred 3,375 ETH worth $11.75 million seized from Estonian fraudsters. These crypto assets had been sitting dormant for two years. According to Arkham's data, the US government owns more than 50,000 Ethereum and 213,534 Bitcoin.