NFT News Official TheBitTimes.com

China's capital outflows reached $49 billion in August, its highest in nearly eight years. Analysts are debating whether it could be a boon for Bitcoin and crypto. Bitcoin (BTC) could see “substantial inflows” from China within the next few months, amid a weakening Chinese yuan and one of the country’s biggest capital flight s in years .  “The familiarity of Bitcoin by Chinese investors in times of a weakening domestic economy could see substantial inflows into Bitcoin over the next few months,” said Markus Thielen, head of research and strategy at Matrixport. Latest official data — compiled by Bloomberg — shows China’s capital outflows hit $49 billion in August, the largest monthly capital outflow since December 2015, potentially spelling more pressure for the Chinese yuan. China just experienced a capital outflow of $49 billion last month, the largest outflow in more than 7 years pic.twitter.com/X4Or9k3Oiu — Barchart (@Barchart) September 19, 2023 “The USD/CNY exchange rate...

An Ethereum wallet address that has been dormant for eight years recently moved its entire stash of 61,216 ETH, valued at $116 million at spot rates as of July 19, to an address on Kraken, a crypto exchange. Initially worth approximately $20 million during the pre-mine phase, ETH prices have since surged, lifting the entire stash by 8X to roughly $116 million over the years . A dormant pre-mine address containing 61,216 #ETH (116,396,127 USD) has just been activated after 8.0 years!https://t.co/f79T0fYa7b — Whale Alert (@whale_alert) July 18, 2023 Money on the move Etherscan data verified the pre-mined 61,216 ETH movement to a Kraken wallet address on July 18 at 7:30 pm Eastern Time. Surprisingly, the transfer of $116 million worth of ETH incurred $1.5 in transaction fees. Ethereum Transaction | Source: Etherscan Before sending, he first sent 0.05 ETH as a test to the Kraken address. Ethereum USD Price Chart | Source: CoinMarketCap Coinciding with this bi...