Whale deposits $13.4 million worth of Bitcoin into Binance

IconCryptoNewsTerminal Staff03 Jul, 2024

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Whale deposits $13.4 million worth of Bitcoin into Binance

According to CryptoQuant Alarm, an anonymous whale address deposited 1,889.3 BTC (worth 15.75 billion won or $13.4 million) into Binance. The transaction was identified as a single large transfer, indicating that a major player in the cryptocurrency market may be moving their assets. This movement of funds could have a significant impact on the price of Bitcoin, as large buy or sell orders can cause volatility in the market. It is worth noting that the reason behind this whale's decision to deposit such a large amount of Bitcoin into Binance is unknown, but it could be a sign that they are preparing to make a large trade or are seeking to store their assets on a more secure exchange.

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