Institutional Investors Remain Undeterred Despite Regulators Tightening The Noose Around Crypto Markets

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With regulators in the US imposing more restrictions around cryptocurrency markets, and with the U.S. infrastructure bill’s crypto tax reporting provision investors seem concerned about the developments. However, a recent report from Glassnode reveals that institutional investors are not as stirred as their retail counterparts. 

Despite the ongoing debate around crypto tax reporting the price of Bitcoins have jumped by over 20% in the last 7 days. Data from Glassnode reveals it is not the private investors who have been pushing the price but bigger investors responsible for large-value dollar transactions. 

Coindesk reports, CheckMate, a blockchain analyst at Glassnode explaining “retail investors rarely move transactions [with values of at least $1 million] on a scale to create such dominance.” 

“The rising dominance also correlates with [massive] Coinbase exchange outflows since December 2020, which we also assign to likely US institutions,” he added.

Data reveals that the percentage of smaller value transactions have dropped and that the ongoing issues have only managed to impact private and retail investors.

Utsav K.
Utsav K.
Utsav is a senior crypto journalist and has been an active member in the community from even before the first major crypto boom back in 2017. In his writings, he focuses on analysing price trends and investigating policies. If you want to understand the practical implications and uses of complex technical protocols, he is your guy.

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