$220 Million Worth Bitcoin Sold Post Halving

Bitcoin

Post halving, we saw a lot of new users turning to twitter to express their views regarding the Halving event. Which made #BitcoinHalving on Top of the Twitter Trending Hashtags for the first time ever in Bitcoin’s History.

Post the much-anticipated event a sudden increase in awareness within the people was seen which led to users beholding $220 million dollar worth of Bitcoin on 11 May. which equals to almost 24,000 BTC as per the Bitcoin Exchange Net-Flow data.from an analysis platform called glassdoor.

The trend before and after halving

Pre and post halving the exchange net flow decreased significantly but was resilient afterward as per the glassdoor analysis.

Does this mean users do not trust exchange platforms? Or Does it simply mean that users think of it as a store value rather than a trading associate?

Moreover, this time the number of daily active users crossed over a million users for the third time after 2017 and 2019. Furthermore, a number of new addresses have been steadily increasing since then.

Are our crypto-funds safe?

2019 saw more cryptocurrency hackers than we saw ever before. The reports of 2020 are unclear. However, recently a report came up of North Korean hackers who tried to create financial damage, trying to steal cryptocurrency amid the COVID-19 crisis.

Keeping that aside, the 2020 Crypto Crime report said that $1.1 billion were stolen by hackers alone in the past two years which resulted in exchanges trying to increase the security and embed sophistication in their platform.

 

Delma Wilson

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