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

Large whale from Binance sells roughly 20k Bitcoin back onto exchange — accounting for over $500 million in BTC.

James Van Straten
Mar. 14, 2023 at 9:31 am UTC
1 min read
Updated: Feb. 6, 2024 at 11:37 pm UTC

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.
Netflow: (Source: Glassnode)
Netflow: (Source: Glassnode)
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James Van Straten
James Van Straten
Former Lead Analyst 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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