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 Consequently, by August 22, a total of 14,460 BTC had been withdrawn from Binance's holdings.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

Previous Next

Disclaimer:
This information is for educational purposes only and does not constitute investment advice. No person should rely on it to make any investment. Investing carries risks, including the loss of capital. All opinions expressed are subject to change without notice. Past performance is not indicative of future results. Always seek the advice of a licensed investment professional before making any investment.