Bitcoin

Show

Simply

Cosmos

<p>Just 24 hours before the high-profile lawsuit between Grayscale Investments and the U.S. Securities and Exchange Commission (SEC) reached a resolution, something curious happened in the crypto markets. </p> 
<p>Wallets holding between 10 to 10,000 Bitcoin ($BTC) suddenly swelled, accumulating a staggering $388.3 million in BTC according to Santiment <a href="https://twitter.com/santimentfeed/status/1696755306745962549?s=20" target="_blank" rel="noopener noreferrer nofollow">data</a>. This spate of activity could not have been more timely—Bitcoin’s price jumped 6% following the lawsuit’s conclusion, yielding a handsome reward for those who bought in ahead of the news.</p> 
<figure class="wp-block-image size-large"> 
 <img decoding="async" loading="lazy" width="1024" height="660" src="https://captainaltcoin.com/wp-content/uploads/2023/08/image-836-1024x660.png" alt="" class="wp-image-324756" srcset="https://captainaltcoin.com/wp-content/uploads/2023/08/image-836-1024x660.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-836-300x193.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-836-767x494.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-836-1536x989.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-836-2048x1319.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-836-233x150.png 233w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-836-100x64.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-836-543x350.png 543w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-836-788x507.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-836.png 680w" sizes="(max-width: 1024px) 100vw, 1024px"> 
</figure> 
<p><em>Source: <strong><a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="Santiment" href="https://captainaltcoin.com/go/santiment/" data-shortcode="true">Santiment – Start using it today</a></strong></em></p> 
<p>In the crypto ecosystem, entities holding substantial amounts of Bitcoin or any other cryptocurrency are colloquially known as “whales.” A subclass of whales, often referred to as “sharks,” holds moderately large amounts—neither as small as individual retail investors nor as large as institutional funds. These whales and sharks appeared to have foreknowledge or, at least, a high degree of foresight concerning the lawsuit’s outcome.</p> 
<h2 class="wp-block-heading" id="strong-the-stakes-grayscale-and-sec-lawsuit-strong"><strong>The Stakes: Grayscale and SEC Lawsuit</strong></h2> 
<p>The lawsuit between Grayscale and the SEC was a landmark case, critical for setting precedents around cryptocurrency regulations. Grayscale Investments, one of the largest digital asset managers, was under scrutiny for its handling of its Bitcoin Trust, a product that allows investors to gain exposure to Bitcoin without directly holding it. This case had implications far beyond Grayscale; it was seen as a litmus test for how the SEC could approach the regulation of crypto assets.</p> 
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:"> 
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0"> <i class="rhicon rhi-bolt-regular rh-colortitlebox-icon" style="color:"></i> 
  <div class="rh-colortitle-inbox-label">
    Trade on US-Banned Exchanges With No KYC 
   <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f92b.png" alt="🤫" class="wp-smiley" style="height: 1em; max-height: 1em;"> 
  </div> 
 </div> 
 <div class="rh-colortitlebox-text"> 
  <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px"> 
   <div class="rh-toggler-wrapper" style="height:100px"> 
    <p>Tired of missing hot new listings because your favorite exchange is banned in the US? <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f1fa-1f1f8.png" alt="🇺🇸" class="wp-smiley" style="height: 1em; max-height: 1em;"></p> 
    <p>With <a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="Rocketxchange" href="https://captainaltcoin.com/go/rocketxchange/" data-shortcode="true">RocketXchange</a> you can finally trade on Kucoin, ByBit and more without registration or KYC! <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f64c.png" alt="🙌" class="wp-smiley" style="height: 1em; max-height: 1em;"></p> 
    <p>Simply connect your wallet to access every coin. No VPN needed.</p> 
    <p>Seamlessly bridge between EVM, Solana, Cosmos and 100+ chains. Discover the next crypto gem with low fees.</p> 
    <p>Take your trading to the next level with:</p> 
    <ul> 
     <li>Instant access to banned CEXs <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6ab.png" alt="🚫" class="wp-smiley" style="height: 1em; max-height: 1em;"></li> 
     <li>No KYC required <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f645-200d-2642-fe0f.png" alt="🙅‍♂️" class="wp-smiley" style="height: 1em; max-height: 1em;"></li> 
     <li>Trade on your terms – no registration required</li> 
     <li>Maintain full custody – tokens stay in your wallet</li> 
     <li>Access liquidity across leading DEXs and CEXs</li> 
     <li>Bridge assets quickly between any blockchain</li> 
    </ul> 
    <p>Escape CEX limits today with <a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="Rocketxchange" href="https://captainaltcoin.com/go/rocketxchange/" data-shortcode="true">RocketXchange</a>!</p> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span> 
   </div> 
  </div> 
 </div> 
</div> 
<p>Blockchain analytics show a discernible pattern of large transactions made by 10-10K BTC wallets in the day leading up to the lawsuit’s conclusion. Approximately $388.3 million worth of Bitcoin was moved into these wallets, far above the typical daily transaction volume for this cohort.</p> 
<p>As the lawsuit concluded favorably for Grayscale, Bitcoin’s price experienced a surge, appreciating by 6% almost immediately. This quick price increase disproportionately benefited those who had loaded up on Bitcoin beforehand. While it’s difficult to ascertain whether these activities were guided by insider information, they certainly paid off handsomely.</p> 
<p>Was this strategic accumulation a result of insider information or just savvy speculation? The timing is unquestionably suspicious but proves nothing definitively.</p> 
<p><em>Join us on <strong><a href="https://twitter.com/intent/follow?screen_name=captainaltcoin" data-type="link" data-id="https://twitter.com/intent/follow?screen_name=captainaltcoin" target="_blank" rel="noopener noreferrer nofollow">Twitter</a></strong> and <strong><a rel="noopener noreferrer nofollow" href="https://www.facebook.com/captainaltcoin" target="_blank">Facebook</a> </strong>for the latest insights and discussions in the world of crypto.</em></p> 
<p><em>Explore our <strong><a href="https://captainaltcoin.com/tag/news/" target="_blank" rel="noopener noreferrer nofollow">news section</a></strong> and stay ahead of the curve with our expert <strong><a href="https://captainaltcoin.com/predictions/" data-type="link" data-id="https://captainaltcoin.com/predictions/" target="_blank" rel="noopener noreferrer nofollow">price predictions</a>.</strong></em></p> 
<p>The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/whales-accumulated-388000000-in-bitcoin-the-day-before-grayscale-news-did-they-know-the-outcome/">Whales Accumulated $388,000,000 in Bitcoin The Day Before Grayscale News – Did they Know The Outcome?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Whales Accumulated $388,000,000 in Bitcoin The Day Before Grayscale News – Did they Know The Outcome?

Table of Contents

CaptainAltcoin

Other articles published on Aug 30, 2023

Robinhood Wallet integrates Bitcoin, Dogecoin networks

Assessing Key Global Economic Challenges and Responses

US SEC's Gary Gensler To Face Huge "Crypto" Hearings

Ethereum Futures To Be Approved By October, Watchvestor To Unlock Liquidity in $48 Billion Luxury...

Shiba Inu: How To Withdraw Crypto From Shibarium to Ethereum

Uniswap Class Action Dismissed in Landmark Ruling for DeFi

Join our free newsletter for daily crypto updates!