U.Today – There was some unusual activity in the (BTC) market this weekend, with a new wallet in the past two days withdrawing 2,700 BTC, worth about $256.38 million, from Binance, the world's largest cryptocurrency exchange.
First, yesterday this wallet withdrew 1,000 Bitcoin worth $94.43 million. Less than a day later, another transfer of 1,700 bitcoins worth $161.35 million left the exchange. The wallet now contains 2,700 BTC, which is a large amount of money to move around in such a short time.
What's even more interesting is that this little-known wallet came out of nowhere without any previous transaction history.
These types of moves often say a lot in the world of cryptocurrencies. It's not just about size, it's also about what those who control the wallet do. From the perspective of cryptocurrency market participants, such withdrawals from centralized exchanges are seen as the action of a large, unknown investor who purchases cryptocurrency and places it in his own custody.
So the perception is somewhat bullish.
However, the problem is that this wallet may belong to Binance itself, and all this confusion between wallets is nothing more than an internal process of the exchange.
However, the owner's endgame remains a mystery. It could be a way to hedge against market volatility, a sign of bullish prospects, or part of a larger secret plan. The fact that there is no instantaneous on-chain movement of Bitcoin outside of Binance indicates the potential for secure storage.
Who owns it, the stock exchange or individual investors, also remains a mystery.
