Anonymous Whale Withdraws 1,000 BTC from Binance
CryptoNewsTerminal Staff01 Sep, 2024
Anonymous Whale Withdraws 1,000 BTC from Binance
According to SpotOnChain, an anonymous whale address withdrew 1,000 BTC ($57.4 million) from Binance 20 minutes ago. This follows a series of withdrawals by the same address over the past week, totaling 2,000 BTC ($117 million). The address had previously deposited 7,790 BTC ($467 million) between June 27 and July 8. The average price of these deposits was $59,953. The address currently holds 8,559 BTC ($494 million). The reason for the withdrawals is unknown, but they could be a sign that the whale is preparing to sell their Bitcoin or move it to another exchange. Whatever the reason, the withdrawals are a reminder that even the largest Bitcoin holders are not immune to the market's volatility.
