Although the crypto markets may seem calm, there are remarkable mobility behind the scenes, for example Shıb. In particular, the developments that are closely related to Shiba Inu (SHIB) investors have come to light with the “Misterioous” transfers in the wallets of South Korea -based stock market upbit. The wallet with a giant $ 625 million giant Shıb drew attention with sudden operations. So what lies behind these movements?
Shıb transfers accelerated: internal transfer or great preparation?
According to data provided by Arkham Intelligence, South Korea’s largest crypto currency exchange Upbit, Upbit, experienced a sudden increase in Shiba Inu transactions. In the last 24 hours, a large number of Shıbs of medium sized from the wallets of the stock market to the hot wallets took place.
These operations, at first glance, seem to be like the internal transfers of UPbit, but a detail did not overlook: Shıb, UPbit in the last 24 hours in terms of transaction volume was among the 20 most traded crypto currencies. This data suggests that transfers are not ordinary and there may be a special preparation for Shıb on the stock market.
Upbit is one of Shıb’s largest wallet holders
The Upbit has a value of approximately 625.7 million dollars by having 47.11 trillion shibs. This amount corresponds to 4.71 %of Shiba Inu’s total supply. The stock market’s “0x02e” address has an effective position in the market with this gigantic asset.
The latest regulations and regulation pressures in South Korea increase the possibility that there may be different reasons behind such operations. The increase in Shıb’s transaction volume among investors, “A new listing, announcement or campaign is coming?” It brings questions.
South Korean regulations stretch the crypto market
South Korea has increased its pressure on crypto exchanges in recent weeks. Especially UPbit and Bithumb came up on the agenda for allegedly received token listing fees. While Upbit rejected these allegations in a certain language, he demanded concrete evidence from those who made the claim. However, the process still remains uncertain.
On the other hand, regulators have decided to block the websites of exchanges such as Kucoin, Bitmex, Coinw, Bitunix and Kcex on the grounds that they operate unlicensed. These decisions are concerned about crypto investors in the region, while large wallet movements are also associated with these developments.
