Institutional investors withdraw USD 600 million in Bitcoin from the market in one day

Institutional investors continue to demand Bitcoin through Grayscale Investment. In one day they withdrew 16,244 BTCs from the market.

Grayscale Investment continues to prove to be a key connector between institutional investors and Bitcoin. Yesterday they added 16,244 BTCs, approximately USD 600 billion, to their Grayscale Bitcoin Trust (GTBC) fund.

Bitcoin Whale Number Reaches New Highs, but BTC Falls

Grayscale is the bridge between institutional investors and Bitcoin

CryptoQuant data revealed that in just one day Grayscale was able to collect 16,244 Bitcoins from the market, all thanks to an impressive increase in institutional demand.

This is the largest daily purchase so far in terms of Bitcoin, which led to a total of 632,000 BTCs in the crypto pool, worth approximately $23 billion.

Actually, it looks like not only did @Grayscale buy 16,000 BTC today, but this was the single largest one day purchase of BTC * IN BTC TERMS * not just dollar terms

Therefore, the crypto community is impressed with the growth that Grayscale’s crypto pool has experienced. In fact, as we reported yesterday in CryptoTrend, JP Morgan strategists believe that the crypto signature will be key to Bitcoin’s price increase.

Crypto Week: Pressure Continues on Cryptology Adoption

Report: Crypto payments for ransomware increase

Thus, crypto payments associated with ransomware grew by at least 311% in 2020, according to new data from the data company blockchain Chainalysis.

According to our research, #ransomware is the fastest growing type of criminal cryptocurrency activity, and is a direct threat to #nationalsecurity. We’re proud to be a part of the @IST_org #RansomwareTaskForce to help mitigate this threat.

In addition, it is worth remembering that ransomware is a type of malicious computer program that forces users to pay a ransom. And, according to Chainalysis, crypts have become a common method of payment.

Bitcoin could reach 115K, says Pantera Capital

Binance burns $165 million in BNB

According to Binance CEO Changpeng Zhao, about 2.4 times more tokens were burned this time in terms of fiduciary value. Thus, as announced, the crypto exchange burned 3,691,888 Binance Coin (BNB), worth approximately USD 165.8 million.

According to Larry Cermak, director of research at The Block, the burning occurs after „Binance’s spot volume has increased by more than 50% and futures volume has increased by 140% in the fourth quarter“.

In a few lines…

Janet Yellen, a candidate for Secretary of the Treasury, shared her concerns about crypto being used in illicit financing.
Coinbase announced today that it is ready to acquire Bison Trails, a crypto company that can help it grow.
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ADA, the Cardano network’s crypto currency, is now the sixth largest crypto currency in the ecosystem.