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664M worth BTC transferred between Binance and Unknown wallets: Is BTC price about to dump?

An amount of $664 million worth Bitcoin has been transferred between the crypto exchange Binance and unknown wallets.

The Twitter bot account Whale alert has tracked the transactions that occurred between Binance and anonymous wallets. According to the report of Whale Alert, several bitcoin transactions have been made between them.

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Total 7812 BTC were transferred

There was almost 7812 bitcoin worth $66,453,000 that were transferred between crypto exchange Binance and several unknown wallets. Out of the total transferred BTC, almost 3312 BTC were sent to Binance exchange while 4500 BTC were sent from Binance exchange to unknown wallet.

According to the report of Whale Alert, one transaction was made from an unknown wallet to Binance while two transactions were made from Binance to the unknown wallets.

These unknown or anonymous wallets were without their owners. But during these three transactions that were made, the address of the unknown wallet was the same.

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The Reaction of Crypto community

Whenever a large transaction occurs, the crypto community shows its reaction. This time it also reacted to this large bitcoin transaction in which crypto exchange Binance was involved. Some believe that Bitcoin’s price is about to dump. But some people think otherwise.

While commenting on the Whale Alert report, a Twitter user commented that despite seeing several transfers to crypto exchanges Coinbase, Binance, Bitstamp, and Okex, still the price value of the coin remains uninfluenced and says that BTC price is not dumping.

BTC transactions were not only made with the Binance exchange but two other crypto exchanges Okex and Coinbase were also involved. Almost 1000 BTC were transferred from Coinbase exchange to the unknown wallet while 1000 BTC was also sent from OKex exchange to the unknown wallet.

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Adeline Gibbs

Adeline Gibbs is a writer and a vital contributor to Tokenhell. She always stay up-to-date with latest happenings in crypto world.

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