F2Pool Founder Deposits $11.7 Million Worth of WBTC into Binance

IconCryptoNewsTerminal Staff15 Aug, 2024

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F2Pool Founder Deposits $11.7 Million Worth of WBTC into Binance

As per on-chain analyst @ai_9684xtpa, an address labeled as 'Discus Fish' founder of the large Chinese crypto mining pool F2Pool (starts with 0x3f3) just deposited 200 WBTC ($11.7 million) to Binance 1 hour ago. The address currently holds 724.46 WBTC, with a total wallet balance of $45.53 million worth of assets. This recent move by the F2Pool founder has sparked speculation within the crypto community about the reasons behind the large WBTC deposit. Some believe that it could be a sign of a potential sell-off of WBTC in the near future. Others suggest that it could be a strategic move by the mining pool to diversify its asset portfolio. Regardless of the reason, this substantial transaction is a notable development in the cryptocurrency market and is likely to be closely watched in the coming days.

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