Bitcoin
$82M Bitcoin Mystery Surprises World’s Largest Exchange by U.Today
U.Today – A substantial withdrawal of 1,195, valued at approximately $81.95 million, was made from Binance, the world’s largest cryptocurrency exchange. This transfer to an unknown address caught the attention of the crypto community, as normally massive withdrawals from exchanges are perceived as bullish signs for the price.
The logic is simple: large investors buy digital assets on liquid platforms like Binance and then transfer them to private wallets for storage, indicating long-term holding strategies.
Digging deeper into the data, we can learn that the exchange-hosted address “bc1qm34” transferred millions of tokens to “1126a” in one tranche. This address is relatively new and was activated a month ago by a transfer from the same Binance – for 89,668 BTC, equivalent to US$5.62 million.
In general, all interactions from this address are related to Binance, as is the address “bc1q7”. In other words, funds only move between these three addresses.
A deeper dive into Arkham Intelligence data, however, reveals that the address in question may belong to Ceffu – an institutional digital asset platform that offers custody and liquidity solutions. The second address, however, also belongs to the platform and is its custody address. It now holds 250,219 BTC worth $17.45 million.
Thus, it can be stated that there is no special mystery and mysticism in this transfer – only one platform withdraws Bitcoin from the largest and, in fact, liquid, platform for its own needs.
Meanwhile, Bitcoin continues to trade at around $70,000 per coin. Towards the end of today, the price of the leading cryptocurrency is rising more than 2%. To reach Bitcoin’s absolute maximum price of US$74,000, there is less than 5.5% left.