The two newly created wallets have received a total of over 1,000 BTC and nearly 12,000 ETH from Binance, equivalent to over 169 million USD.
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The two new wallets received 1,046 BTC and 11,950 ETH from Binance.
The transaction value is approximately 169 million USD.
What does the large transaction from Binance to the new wallet mean?
According to Onchain Lens data, the transfer of 1,046 BTC and 11,950 ETH into two newly created wallets represents large-scale cryptocurrency movement from Binance.
This could be a sign of preparing for larger transactions or moving assets into personal wallets for higher security. The transaction was recorded about 20 minutes before the reporting time, indicating transparency and promptness in tracking on-chain fluctuations.
How can we know if this transaction information is reliable?
The data is provided by Onchain Lens – a reputable blockchain analysis platform that specializes in tracking large money flows in the cryptocurrency ecosystem.
Publicly sharing specific information about the amount of BTC, ETH, and the timing of transfers enhances transparency and builds trust for investors. This is on-chain data that is recorded and cannot be forged.
Such large transactions reflect significant movements in the cryptocurrency ecosystem, often related to professional asset management or preparation for large-scale trading activities.
Blockchain analyst, Onchain Lens, 2024
What are the next potential actions after these transactions?
After transferring a large amount of assets to new wallets, whales or organizations often carry out activities such as staking, moving to cold wallets for long-term storage, or preparing for trading on other exchanges.
The transaction may signal preparation for upcoming market activities, affecting circulating supply and prices in the cryptocurrency market.
Points to note when tracking large transactions from Binance
The nature of large transactions requires continuous monitoring to assess market impact, especially when whales move assets between hot and cold wallets or to other platforms.
Detailed analysis of data from Onchain Lens and similar platforms supports investors and traders in understanding supply movements and liquidity trends.
Frequently Asked Questions
Does the transfer from Binance to the new wallet mean selling coins?
Not necessarily, as transferring assets between wallets does not have to mean selling; it can be moving for management or security purposes.
What source is the transaction information based on?
Data provided by Onchain Lens, a platform specializing in tracking and analyzing large movements on the blockchain.
Does a large coin transfer affect the price?
How to track similar large transactions?
Users can use blockchain analysis tools such as Onchain Lens, Glassnode, or Dune Analytics to track cryptocurrency flows.
Can a newly created wallet be a personal or organizational wallet?
Most are personal wallets or organizations that specialize in managing cryptocurrency assets; new wallets with many assets often belong to whales or organizations.
Source: https://tintucbitcoin.com/btc-eth-rut-1-046-btc-11-950-eth/
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