BTC Worth $1.2 Billion Withdrawn from Binance Amid Price Crash

BTC Worth $1.2 Billion Withdrawn from Binance Amid Price Crash

BTC Worth $1.2 Billion Withdrawn from Binance Amid Price Crash

Over 21 thousand Bitcoins were withdrawn from the cryptocurrency platform Binance after the largest drop in quotations in the last months.

Only 10 minutes following the drop in Bitcoin quotes on April 18 by more than 15% (from $60.5 thousand to $50.8 thousand), 21 thousand Bitcoins worth $1.2 billion were drawn from the Binance crypto exchange, as indicated by data from a research firm Glassnode.

The biggest drop in the value of Bitcoin in the previous few months came an hour after an unverified message surfaced on Twitter regarding an alleged investigation that the US Treasury supposedly launched into some financial institutions on money laundering by utilizing cryptocurrencies. The last time a significant drop in quotations was seen at the end of February. Back then, Bitcoin set a new highest value and then tumbled in price by 21% (from $59.3 thousand to $46.9 thousand).

Currently, the price rate of the main cryptocurrency is improving, and at the time of writing this article, the digital coin is trading at $55.4 thousand.