Bitcoin Whale Transfers $1 Billion to Binance
A wealthy Bitcoin whale just moved $1 billion worth of BTC to the world’s largest cryptocurrency exchange Binance.
According to Whale Alert, the high-value trader shifted a massive amount of Bitcoin tokens Thursday night from an anonymous wallet to Binance. The transaction amounted to 68,200 BTC or roughly $1.15 billion.
CryptoQuant’s CEO gave an explanation on the sudden movement of such a massive stash by saying that this is most likely done by “clients who are in an urgent situation” rather than Binance or Changpeng Zhao himself.
59,151 BTC just unpegged from BTCB and flowed into Binance. BTCB is the Bitcoin-pegged token on the BNB chain. Since BTC’s market cap decreased at the same time, it doesn’t seem to be post-settlement. Sell-side liquidity, in my opinion.
Rationale:
–If you’re CZ, why do you unpeg Bitcoins from BNB chain? Your goal is to support projects on BNB chain.
–No announcements from Binance means it’s customer or investor’s money.
So I think this activity was highly likely from customer(s) who are in urgent situations.
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Other notable transfers that have come under Whale Alert’s radar include:
- 1,186 BTC worth about $20 million transferred from Coinbase to an unknown wallet
- 2,056 BTC worth approximately $35 million, transferred from an unknown wallet to Coinbase
- 19,035 BTC worth approximately $318 million, transferred from an unknown wallet to an unknown wallet
At the time of writing, Bitcoin is trading at $16,617 – after a short upward momentum.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
