Suspicious Whale Withdraws $51 Mln Worth ETH, SHIB, And Other Cryptos From Binance
As per on-chain data provider Spot On Chain, a suspicious whale accumulation, identified by the address (initials) 0x865, has recently executed two substantial transactions on Binance. On November 30, 2023, the whale withdrew 60,000 BNB ($13.73M) and 1.6M MATIC ($1.22M), adding to its recent activity.
Whale Transferred More Than $51 Mln to Binance
In the past 18 hours, this whale has withdrawn a staggering $51.54M in assets, as detailed in the previous signal. The current holdings of the whale amount to $53.36M, comprising various tokens.
The previous withdrawals included 10,000 ETH ($20.3M), 45,000 BNB ($10.2M), 300B SHIB ($2.47M), 260M old IOST ($2.4M), 16M CHZ ($1.18M), and a small amount of $3,339 worth of JASMY, MKR, GALA, ARB, OP, GRT.
The address 0x865, associated with this whale, was created 175 days ago on June 8, 2023. Notably, despite its creation date, the whale only recently began accumulating a significant amount of tokens. The whale currently owns various assets valued at $53.36 million.
Also Read: Australia Unveils Bold Strategy To Tackle Banking And Crypto Scams
Whale Movement Sparks Speculations
The recent accumulation is raising suspicions about its affiliation, possibly with the Binance exchange itself. Following a lawsuit by the US DoJ, the treasury enforced a settlement penalty of $4 billion on Binance.
As of now, there’s no announcement of Binance liquidating its holding to pay the settlement money. However, there’s a possibility that Binance might sell some of its holdings to clear the fine imposed.
In a recent report from Defillama, it has been revealed that Binance currently owns a substantial total asset holding of $66.917 billion. The breakdown of these holdings includes a staggering $20.578 billion in Bitcoin (BTC), underlining Binance’s significant presence in the BTC market.
Additionally, the exchange holds $18.84 billion in Tether (USDT), a popular stablecoin, further solidifying its influence in the stablecoin sector. Notably, Binance also has a noteworthy position in the Ethereum (ETH) market, with $8.085 billion in Wrapped Ethereum (WETH/ETH).
Also Read: SEC Chair Gary Gensler Hinted At Spot Bitcoin ETF Approval? Speculates Bloomberg Analyst
- Trump Tariff Tensions Ease as U.S. and China Hold Positive Trade Talks Ahead of Oct 30 Summit
- Polymarket Hits $20B in Trading Volume, Announces Plans for Massive POLY Token Airdrop
- James Wynn Takes XRP Long Bet After Ripple Prime Announcement
- Nasdaq-Listed Bonk Holdings Makes First Major Purchase of $32M, Nears 3% of Total Supply
- Binance-based Meme Coin GIGGLE Fund Shoots 145% on Exchange Listing News
- PEPE Coin Price Prediction as Weekly Outflows Hit $17M – Is Rebound Ahead?
- HBAR Price Targets 50% Jump as Hedera Unleashes Massive Staking Move
- Chainlink Price Outlook: Analyst Predicts $100 as Reserve Adds 63K LINK
- SUI Price Prediction as TVL and Monthly DEX Volume Hit All-Time Highs- What’s Next?
- PUMP Price Prediction as Whales Accumulate 4.2B Tokens- Is 135% Rally Next?
- Dogecoin Price Crash Looms as Flag, Death Cross, Falling DOGE ETF Inflows Coincide
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
