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🚀Hey BTC enthusiasts! A whopping 700,000 BTC have been transferred to over-the-counter (OTC) desks commonly used by miners in the past three weeks, says CryptoQuant CEO Ki Young Ju. This massive movement comes after the approval of a spot Bitcoin ETF. 📈 What does this mean? Miners may be gearing up to sell or trade their BTC holdings, taking advantage of their large reserves to facilitate OTC trades for institutional investors. 💼 This could lead to substantial transaction fees and potentially favorable pricing conditions, especially before the much-awaited Bitcoin halving in April. 🎉 Interestingly, this shift comes as more whales 🐳 enter the market, with a significant increase in the volume of UTXOs between 1,000 to 10,000 BTC. This suggests that institutions are getting in on the action, especially with the recent approval of spot Bitcoin ETFs. 🌊 Hold on tight, as large Bitcoin entities' holdings have reached a new all-time high since July 2022, signaling a notable increase in demand for Bitcoin investments. 📊 Currently, Bitcoin is trading just below $52,000, with 30% gains over the past month. 🚀

🚀Hey BTC enthusiasts! A whopping 700,000 BTC have been transferred to over-the-counter (OTC) desks commonly used by miners in the past three weeks, says CryptoQuant CEO Ki Young Ju. This massive movement comes after the approval of a spot Bitcoin ETF. 📈

What does this mean? Miners may be gearing up to sell or trade their BTC holdings, taking advantage of their large reserves to facilitate OTC trades for institutional investors. 💼 This could lead to substantial transaction fees and potentially favorable pricing conditions, especially before the much-awaited Bitcoin halving in April. 🎉

Interestingly, this shift comes as more whales 🐳 enter the market, with a significant increase in the volume of UTXOs between 1,000 to 10,000 BTC. This suggests that institutions are getting in on the action, especially with the recent approval of spot Bitcoin ETFs. 🌊

Hold on tight, as large Bitcoin entities' holdings have reached a new all-time high since July 2022, signaling a notable increase in demand for Bitcoin investments. 📊 Currently, Bitcoin is trading just below $52,000, with 30% gains over the past month. 🚀

Disclaimer: Includes third-party opinions. No financial advice. See T&Cs.
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🚀📢 Breaking News! Pac Finance, a lending app on Blast, has seen a whopping $24 million liquidation on April 11 due to a sudden change in parameters by the developer wallet. 📉💰 Crypto holders, lend me your ears! 📣 Pac Finance is a platform where you can earn interest by lending your assets. But, hold on to your hats, folks! A sudden change in the loan-to-value ratio (LTV) for Renzo Restaked Ether (ezETH) to 60% without prior announcement has caused a stir in the community. 🎩🌪️ This unexpected adjustment in LTV parameters led to a $24 million liquidation just seconds after the update. Developer kydo.eth from EigenLabs was the first to shed light on the situation, causing Pac Finance users to demand explanations on the protocol's official Discord server. 🕵️‍♂️🔦 The team's Discord moderator, Bountydreams, stated they are trying to contact the team for clarification. But, as of now, no response has been received. 📞📨 This protocol change has raised eyebrows over security issues. According to smart contract developer Roffet.eth, the change led to the liquidation of many ezETH leveraging farmers since they now violated the protocol's collateral rules. Roffet criticized the change as "arbitrary," as it allegedly occurred without warning. 🚨🔐 Parsec Finance founder Will Sheehan also condemned the change, estimating that borrowers incurred losses of approximately $24 million in collateral, as their assets were automatically sold off to settle their loans due to the protocol change. 💸💔 This incident adds to a series of security issues within the platform. In early March, Blast's lending agreement Orbit Lending faced criticism for discrepancies in its liquidation threshold. Plus, Blast's ecological project Munchables suffered an attack recently, leading to the theft of 17,400 ETH (valued at approximately $62.3 million). 🚀🔥 Stay tuned for more updates on this developing story! 📰📲
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