A Bitcoin whale deposited 1,102 BTC worth $74.21 million to Binance, realizing a $55.6 million loss.
According to Lookonchain, the whale transferred 1,102 BTC to Binance after buying the holdings eight months earlier for $117.77 million, implying an estimated 43% loss based on current value.
BTC
Fact Check
The claim is fully supported by on-chain monitoring reports from Lookonchain and Onchain Lens, as documented by PANews and BlockBeats. All specific details, including the amount of BTC (1,102), the current value ($74.21 million), the purchase price ($117,770), and the resulting loss ($55.6 million), match the evidence found in the sources.
Summary
According to Lookonchain on March 30, a Bitcoin whale deposited 1,102 BTC to Binance in a transfer valued at about $74.21 million. The on-chain tracker said the holdings had been bought eight months earlier for $117.77 million and were down about $55.6 million, or 43%. The update highlights a large Bitcoin movement to a major exchange and revises the cited source and acquisition value from the earlier report.
Terms & Concepts
- Bitcoin whale: A wallet or investor holding a large amount of Bitcoin, whose transfers can attract attention because they may influence market sentiment or liquidity.
- Binance: A cryptocurrency exchange where users can deposit, trade, and withdraw digital assets including Bitcoin.
- BTC: The ticker symbol for Bitcoin, the largest cryptocurrency by market capitalization.