OKEx recorded over 8,000 Bitcoin ‚whale‘ transactions in June

The OKEx exchange recorded more than 8,000 Bitcoin „whale“ trades in June; more than any other exchange. It also had the honor of registering the largest trade of its kind: 513.1 BTC according to Kaiko.

Number of Bitcoin whale (≥10 BTC) trades by exchange

Whales prefer USDT over USD

In Kaiko’s nomenclature, „whale“ operations are 10 BTC and above. OKEx also led in terms of average whale operation size, which was just over 33 BTC. More significant trades are occurring on exchanges that support BTC-USDT pairs than on those that support BTC-USD pairs:

„This report also shows that more wholesale trades are being made on exchanges that support BTC-USDT compared to exchanges that support the BTC-USD pair“.

OKEx announces the integration of Latamex into its platform
This could be due to the frictionless nature of crypto to crypto operations versus crypto to fiat operations.

Average Bitcoin whale trade (≥10 BTC) by exchange

OKEx is a „buyer’s exchange“.
Interestingly, the volume of whale purchase orders on OKEx was almost double that of sale orders. It is not clear why there is such a difference in buy and sell orders. One possible explanation is that sellers tend to be more conservative and split their orders into smaller packages, below 10 BTC.

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Volume of buy & sell whale Bitcoin trades (≥10 BTC) by exchange

Recently, OKEx CEO Jay Hao told Cointelegraph that, in his opinion, the key to success lies in customer service. The „whales“ seem to agree.