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Crypto

Bitmine Withdraws 20,000 ETH Worth $49.4M from FalconX

Guavy AI Editorial Team
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A Bitmine-linked wallet has withdrawn 20,000 ETH worth approximately $49.42 million from the cryptocurrency exchange FalconX.

The transaction was flagged by blockchain tracking platform Onchain Lens, which identified the wallet as likely belonging to Bitmine, a major cryptocurrency mining operation.

This move is seen as a sign of accumulation, with large withdrawals from exchanges often interpreted as investors moving assets into private wallets for long-term holding rather than for immediate trading.

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