4 ms·
can someone explain the implication of this to a newbie like me?
by par 5y ago
can someone explain the implication of this to a newbie like me?
- arthurcolle 5y agowhen you move a large amount of cryptos to an exchange it is seen by the market at large as a sell signal when a large amount of cryptos are moved off of an exchange, it is seen as a bullish signal because it means that they will be chillin' for a bit and not actively traded. a bunch of weird Tether IOUs being moved off exchange might mean they plan to redeem these for dollars (idk how this even works) or they might be doing a bunch of OTC trades, or stackin NFTs or something
- BitAstronaut 5y agoCan someone unpack “stackin NFTs” for me?
- arthurcolle 5y agoBuy overpriced NFTs in exchange for UST and hold them until they find another greater fool to resell the item to
- ramesh31 5y ago>Buy overpriced NFTs Is there any other kind of NFT?
- arthurcolle 5y agoThe underpriced ones
- vainles 5y agoI think what they meant is that Binance may be using the funds to buy NFTs
- deleted 5y ago[deleted]
- bongoman37 5y agoThat's kind of weird to see it as a sell signal. Couldn't it very well be someone hugely interested in buying it so it is a buy signal? Every transaction has a buyer and seller and both would be thinking they are making a good trade or they wouldn't be in it.
- radicaldreamer 5y agoNothing, large exchanges rotate their cold storage around all the time for all kinds of reasons, every time this happens a bunch of people on Twitter go wild and it's a nothingburger 99% of the time.