BTC Transfer Volume Surges to Second-Highest Daily Level Ever
Bitcoin users moved nearly 39,600 BTC on July 31, the second-largest daily volume on record, surpassed only by the day after FTX's collapse in November 2022. CryptoQuant linked the spike partly to the Coldcard hardware wallet hack.
On July 31, Bitcoin users transferred approximately 39,600 BTC, making it the second-busiest day for on-chain transfers. The only larger daily volume was recorded on November 16, 2022, when roughly 39,900 BTC moved in the wake of FTX's collapse.
CryptoQuant noted that most of the transactions were for amounts less than 1 BTC. The analytics firm associated the sudden increase with the recent Coldcard hack.
Julio Moreno, head of research at CryptoQuant, commented, "It's nice to see people seem to be starting to take action."
Source: ForkLog