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Prominent blockchain tracker Whale Alert, which monitors large cryptocurrency transfers and then shares the details with the community on its website or X handle, has spotted two hefty transactions targeting the world’s largest exchange, Binance.
This aligned with the Bitcoin price gaining more than 2% and surpassing the $106,000 mark for the second time this week.
1,140 Bitcoins deposited to Binance
The aforementioned on-chain data source revealed two large Bitcoin transactions, carrying 500 and 640 BTC to Binance. The transfers were conducted from one wallet, whose owner chose to stay anonymous, within a gap of roughly one hour. In total, the whale deposited 1,140 BTC to Binance, which was the equivalent of approximately $121 million in fiat.
While the Bitcoin price surged by 2.6% from $103,810, reaching the $106,500 zone, this may indicate increased whale activity to lock in profits as BTC demonstrated a significant rise within less than one day.
Michael Saylor praises this BTC purchase
Recently, prominent angel investor and Bitcoin supporter Anthony Pompliano announced the launch of a new Bitcoin-powered company, ProCap BTC.
On Tuesday, he spread the word that right after a $1 billion merger of his new venture and after raising $750 million to acquire BTC, the company bought 3,724 Bitcoins worth $396,482,735 by press time. This is roughly half of the amount raised by ProCap BTC.
Michael Saylor left an approving commentary under Pompliano’s post, saying: “₿3,724 is a strong start for ProCap BTC.” To that, Pomp replied, asking Saylor not to accumulate all the remaining Bitcoin on the market, leaving some for others to scoop up: “Save some bitcoin for the rest of us.”
On Monday this week, Michael Saylor’s Bitcoin treasury company, Strategy, announced an acquisition of yet another BTC chunk – 245 coins for the price of around $26 million. This weekly purchase came after a massive $1 billion Bitcoin acquisition announced last Monday. Now, Strategy boasts a crypto bag of 592,345 BTC worth $63,063,062.
Vladislav Sopov
U.Today Editorial Team