Insights

Largest single BTC deposit hits Binance since the Luna collapse – over $500M

exchange68September 13, 2024

0 0 1 minute read

Quick Take

Over $500 million of Bitcoin got put back onto exchanges as Bitcoin broke through $24,000.
This was the highest amount of sell pressure since May 22, during the Luna collapse.
This selling pressure came from Binance, a whale transaction most likely selling into profits.
This is roughly the equivalent of 20,000 Bitcoin.

Analyst

James Van Straten

Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century’s paramount invention.

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