In a significant improvement, OKEx recorded more than 8000 ‘Whale’ Bitcoin trades in June. It is understood that the number of Bitcoin trade recorded by the OKEx is more than any other exchange in the world. According to Kaiko, it also created the largest trade at 513.3 BTC.
As per the Kaiko guideline, “whale” trades can be 10 BTC or above. It should be noted that OKEx also led in terms of average whale trade size, which was above 33 BTC. More big trades are happening on exchanges that support BTC-USDT pairs than BTC-USD pairs according to the cointelegraph report.
According to the report, “more whale trades are made on exchanges that support BTC-USDT compared with exchanges that support the BTC-USD pair.”
It is understood that it could be due to crypto-to-crypto trades verus crypto-to-fiat trades.
The volume of whale buy orders on OKEx was reportedly almost double of the sell orders. However, tt is not clear why there is such a difference in buy and sell orders.
According to one possible explanation, the sellers need to be more conservative.