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Bitcoin Whale Moves 300 BTC to Binance After Two Years of Inactivity

According to Lookonchain, the wallet address “bc1q8w” bought 300 BTC worth about $23.03 million after two years of inactivity, updating earlier reports that had described the activity as a transfer to Binance.

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Fact Check
The claim is likely true because the original source captured in x post 2048396675082027299, resolved to Lookonchain, directly states that a dormant whale moved 300 BTC worth about $23.4M to Binance after two years. This is corroborated by PANews' 休眠两年的巨鲸将300枚BTC存入币安，卖出后或获利1760万美元 and CoinPost's 休眠2年のクジラ、300BTCをバイナンスに入金 含み益は約28億円＝Lookonchain, both of which attribute the report to Lookonchain. However, the provided Arkham source did not yield transaction-level evidence in the fetch output, so independent on-chain confirmation was not obtained from primary blockchain tooling in this run. That limits confidence somewhat, but the source chain consistently supports the claim.
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Summary

According to Lookonchain, Bitcoin whale address “bc1q8w” bought 300 BTC worth about $23.03 million after two years of inactivity. Lookonchain also said the same address had withdrawn about 322.57 BTC from Binance two years earlier at a Bitcoin price of $28,179, then valued at about $9.09 million. This new report differs from the existing account that described the activity as a 300 BTC transfer to Binance, so both versions remain unverified in the available source material.

Terms & Concepts
  • Bitcoin whale: A wallet or holder with a large Bitcoin balance that can attract market attention because large transactions may influence sentiment or liquidity.
  • Binance: A cryptocurrency exchange where users can buy, sell, deposit, and withdraw digital assets such as Bitcoin.
  • BTC: The ticker symbol for Bitcoin, the largest cryptocurrency by market capitalization.