$6 Billion In Funds Transferred to Kraken!

$6 billion in funds transferred to cryptocurrency exchange Kraken. The transfer in question was made with Ethereum.

According to the data of Whale Alert, more than $ 6 billion worth of Ethereum was transferred to the US-based exchange recently. The purpose of the transfer of 1.25 million ETH, sent from an unknown wallet to the Kraken exchange, sparked a new discussion among the crypto community. According to information obtained from Etherscan, the $ 6 billion transaction in question was sent from Kraken's own cold wallets. In this case, it is possible to say that Ethereum was carried out to provide liquidity on the Kraken stock market due to its deflationary structure. So much so that the increasing fund outflows since the beginning of September proves this. Therefore, it can be said that the transfer of 12.5 million ETH with a value of approximately 6 billion dollars was carried out to inject funds to be used by market makers.

Kraken Shared The Year-End Bitcoin Forecast

According to the report titled “October 2021 Market Summary and Outlook” published by the US-based cryptocurrency exchange Kraken, it was predicted that if Bitcoin repeats its past price movements, its price will rise to $ 96,355 before the end of 2021. The following statements were used in the Kraken report: “Assuming that BTC continues to follow the footsteps of the last quarter of 2017, we can expect it to rise even higher by the end of the month. In this context, with a 220% rise in the 4th quarter of 2021, the price of Bitcoin may reach $ 96,355.” Kraken strategists, who made another price prediction considering the RSI and Bollinger Band indicators, predicted that Bitcoin will exceed 100 thousand dollars before the end of the year, according to these two indicators.