Crypto Whales Add 43,000BTC to Wallet on Binance

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In the context of the cryptocurrency market is having a strong correction. A whale wallet address has taken advantage of “bottom-fishing” to buy 43,000 Bitcoins on Binance.

Bitcoin price sharply corrected, whale wallets took advantage of buying.

Accordingly, a Bitcoin wallet address belonging to the Binance exchange added 43,000 BTC at an average price of $46,553. bringing the total value of the wallet to 5.5 billion USD.

Bitcoin (BTC) continued to correct to $42,000 on January 6, 2022. Equivalent to the lowest price of December 2021.

In the previous two days, the third-largest Bitcoin address also added another 551 BTC. This wallet currently owns a total of 121,396 BTC. With an average price of around $40,000, the wallet is now worth or about $5 billion.

Binance is the owner of this wallet.

Many comments about the owner of this wallet have bought up to 43,000 Bitcoins. However, it is not difficult to realize that Binance is the owner of this big deal. Binance itself confirmed the owner of this wallet in 2019 on Twitter.

Crypto Whales Add 43,000BTC to Wallet on Binance
Image of Binance confirming the 2019 wallet address Source: Twitter

Binance says the wallet is used for the company to issue a number of crypto-pegged tokens on the Binance Chain. The first two tokens pegged to Bitcoin are BTCB and the BEP2 token.

Over time, this wallet seems to have evolved into a cold storage wallet for Binance, the world’s largest cryptocurrency exchange. This was demonstrated in April 2021 in a Tweet by blockchain tracker @whale_alert. When this wallet is labeled as Binance BTC reserve wallet address.

Although the wallet’s 13,001 BTC was used in the Binance Smart Chain (BSC), the owner never sold a single Satoshi. Currently, the wallet has accumulated more than 116,601 Bitcoins since June 17, 2019. This is a huge number when the whole world has only 21 million Bitcoins.

Read more: Binance

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