18 Nov 2022
A Bitcoin Whale Just Swept Up More Than $1,140,000,000—Here's Where This Crypto Is Headed
Binance has received a transfer of more than one billion dollars' worth of Bitcoin (BTC) from an anonymous investor suddenly.
Suddenly, a wealthy Bitcoin (BTC) investor is transferring over $1 billion worth of BTC to Binance, the largest cryptocurrency exchange platform in the world.
According to the whale-tracking service Whale Alert, the wealthy trader transferred 68,200 BTC (approximately $1.15 billion at the time of writing) from an unidentified cryptocurrency wallet to Binance last night.
Ki Young Ju, CEO of market intelligence firm CryptoQuant, explains why such a large quantity of BTC was suddenly transferred.
Ju claims that the shift results from customers reacting to an "urgent situation" and not the work of the cryptocurrency exchange or its CEO, Changpeng Zhao.
Bitcoin is changing hands for $16,617 at writing, a fractional gain on the day.
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