Bitcoin Whales Acquire $220 Million in BTC from Binance Within Two Hours
Recent whale activity includes a 351 BTC deposit to Binance worth $38.73 million, highlighting ongoing large-scale movements and substantial gains in long-term holdings.
BTC
Summary
On Nov. 3, OnchainLens reported a whale deposited 351 BTC (about $38.73 million) to Binance, realizing a gain of $27.97 million since withdrawing 361 BTC from the exchange 3–4 years ago when it was worth $11.63 million. This follows earlier activity where Bitcoin whales moved 2,000 BTC worth $220 million from Binance within two hours, reflecting significant market impact from large-scale transactions and ongoing shifts in exchange usage.
Terms & Concepts
- Bitcoin whales: Individuals or entities holding large amounts of Bitcoin, capable of influencing market prices through substantial trades.
- Binance: A major global cryptocurrency exchange offering trading for digital assets.
- BTC: The cryptocurrency symbol for Bitcoin, representing individual Bitcoin units.