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New Wallet (crypto address) Withdraws 500 BTC From Binance—About $32.9 Million

New Wallet (crypto address) Withdraws 500 BTC From Binance—About $32.9 Million

Onchain Lens now reports an additional withdrawal of 325.58 BTC, worth $20.78 million, from Binance to a newly created wallet, signaling continued large-scale exchange outflows.

BTC

Summary

Onchain Lens identified a new Bitcoin wallet withdrawing 325.58 BTC, valued at $20.78 million, from Binance, following a prior February 23 withdrawal of 500 BTC worth $32.9 million to the same newly created address starting with 1PA6Z. Both transactions are classified as exchange outflows, often interpreted as moves into self-custody, though the purpose remains unconfirmed.

Terms & Concepts
  • Exchange outflow: Movement of cryptocurrency off an exchange to external wallets; often read as reduced immediate selling supply.
  • On-chain analytics: Analysis of blockchain (public ledger) data to track transactions, addresses, and market flows.
  • Wallet address: A cryptographic identifier used to send and receive digital assets; controls funds via private keys.