"1,100 Bitcoin (BTC) Deposited to Binance... Worth Approximately $106.37 Million"
Minseung Kang
Summary
- A whale investor has transferred 1,100 Bitcoin (BTC) to Binance.
- This large deposit is analyzed to be worth approximately $106.37 million.
- Large fund movements to exchanges typically can lead to increased selling pressure and short-term volatility.
A large deposit of 1,100 Bitcoin (BTC) has been made to the global cryptocurrency exchange Binance.
According to blockchain analytics firm Lookonchain, at around 2:44 PM today, a whale investor transferred 1,100 BTC to Binance exchange. This amounts to approximately $106.37 million.
Typically, large deposits to exchanges can lead to increased selling pressure, which may result in heightened short-term volatility.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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