Whales and Fresh Wallets Withdraw Over $49 Million in Bitcoin from Binance

Whales and Fresh Wallets Withdraw Over $49 Million in Bitcoin from Binance

OnchainLens data reveals massive outflows as multiple addresses, including whales, transfer a combined 712 BTC from Binance.

BTC

Fact Check
A Binance Square post directly reports that a newly created wallet withdrew 310 BTC (about $20M) from Binance, which substantiates the 'newly created wallet' component and confirms a sizable BTC outflow from Binance. Separately, a MEXC news report states that a whale moved approximately $195M worth of BTC off Binance; if accurate, this alone surpasses the $49M threshold and also satisfies the 'whales' component. Other Binance-hosted posts discuss large BTC movements (including Wrapped BTC and transfers tied to entities like Abra or Cumberland), but they do not clearly confirm additional BTC outflows from Binance itself. No provided source contradicts the claim. The main limitation is that only one Binance-hosted item explicitly confirms a Binance BTC withdrawal amount ($20M), while the larger $195M whale withdrawal is reported by a lower-authority news source rather than a direct Binance/on-chain post in this set. Consequently, the combined evidence leans toward the statement being true, but confidence is tempered by reliance on a non-Binance secondary report for the majority of the amount.
Summary

OnchainLens monitoring detected the transfer of 402 BTC (approximately $28.23 million) from Binance to two whale addresses, with withdrawals of 200 BTC and 202.02 BTC respectively. This activity follows a prior transaction where a fresh wallet moved 310 BTC ($20.86 million). In total, these entities have withdrawn over 712 BTC, valued at roughly $49 million, from the exchange.

Terms & Concepts
  • Whale: A term used to describe individuals or entities that hold large amounts of cryptocurrency, capable of influencing market prices.
  • Wallet Address: A unique string of characters acting as a digital location for sending, receiving, and storing cryptocurrency.
  • Binance: A leading global cryptocurrency exchange providing a platform for trading various digital currencies.