Whopping 5000 BTC Exit Binance in Jaw-Dropping 60-Second Dash

Whopping 5000 BTC Exit Binance in Jaw-Dropping 60-Second Dash

In a recent turn of events, Binance, the leading cryptocurrency exchange, observed notable whale activity on its platform. This activity materialized through a substantial withdrawal of the well-known cryptocurrency — Bitcoin. 

As a fresh development unfolds within the cryptocurrency market, there's a buzz surrounding the platform. In a striking display of events, investors swiftly withdrew over 5,000 BTC in a mere minute, underscoring the scale of the situation. 

Notably, Changpeng Zhao, the CEO of Binance, categorizes this occurrence as a tactic driven by "fear, uncertainty, and doubt."

Apart from the brief single-minute occurrence, there was a continuous pattern lasting six days starting from August 17, during which Bitcoin outflows took precedence on the Binance platform. Consequently, by August 22, a total of 14,460 BTC had been withdrawn from Binance's holdings.

As of the current moment, the trading price of Bitcoin stands at around $26,100, reflecting a slight overnight decrease of 1%. Over the past few days, the digital asset has consistently remained in the vicinity of the $26,000 range. This range, stretching from $25,000 to $26,000, seems to establish a robust zone of demand for the leading cryptocurrency.

Also Read: Binance's BNB Takes Flight: A Week of Soaring Recovery, $230 in Sight

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