Institutional Whale Deposits Purchased BTC into Binance

IconCryptoNewsTerminal Staff15 Aug, 2024

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Institutional Whale Deposits Purchased BTC into Binance

On-chain analyst ai_9684xtpa shared via Twitter that a whale wallet (bc1q57rcscs6ztj0xnslwkt4nervxkpen07h9h2jnr2hkwlg3lwuljrsdwt2m2), possibly owned by an institutional investor, deposited 394.123 BTC ($22.66 million) into Binance. The whale acquired the BTC about two weeks prior, with an average $52,828 purchase price. If sold, the whale would have profited $1.84 million after the Binance deposit. The whale currently holds 6,162 BTC ($358 million), likely acquired via major exchanges over the past 11 months.