DigitalX to sell $10.8M in BTC and ETH to cover operating costs
- —Sale covers 112 BTC and 800 ETH worth 15.37 billion won at October 11 closing prices
- —Trades will run through Upbit and Bithumb from October 15 to December 31
- —DigitalX already sold 25 billion won in February, 79 billion in March and 16 billion in June
- —Disclosure follows DAXA guidelines on exchanges selling their own crypto holdings
Why it matters: Recurring reserve sales by the exchange add sell-side pressure on BTC and ETH in Korea, though the size is small relative to the broader market.
Source: Bloomingbit