Binance Transfers Approx 3,500,000 BNB While Binance Coin Rises 15%

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Sat, 09/12/2020 - 09:45
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Yuri Molchan
Whale Alert has reported that Binance exchange had transferred 3,550,000 BNB to an anonymous cryptocurrency wallet, while BNB has surged over 15 percent
Binance Transfers Approx 3,500,000 BNB While Binance Coin Rises 15%
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According to the data shared by Whale Alert, the crypto trading giant Binance has made five mammoth-sized transactions which carried a total of 3,550,000 mln BNB to an address with an unregistered owner.

Meanwhile, BNB keeps growing, having added 15.66 percent by now, from almost 12 percent earlier today.

Binance wires $69,040,100 in BNB

Crypto exchange with the biggest trading volumes and an aggressive expansion program, Binance, has transferred 5,350,000 BNB to an anonymous wallet.

Three transactions carried 1 mln BNB each, one was worth 350,000 BNB and the fifth one carried 200,000 BNB.

All the funds went from Binance’s address bnb1jxfh2g85q3v0tdq56fnevx6xcxtcnhtsmcu64m to an anon address bnb1akey87kt0r8y3fmhu2l8eyzdjvt9ptl5cppz0v.

BNB
Image via Twitter

In the comment thread, users have offered a few explanations as to the destinations of those gargantuan transfers.

They believe the BNB has been moved either to the BurgerSwap exchange (launched on Binance Smart Chain two days ago) or to a different blockchain.

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BNB surges almost 16 percent

CoinMarketCap site has provided a chart, showing that Binance Coin has seen a major rise of slightly over fifteen percent over the past twenty-four hours.

BNB is now changing hands at $27.54.

BNB
Image via CoinMarketCap

Binance Smart Chain could be “a drop-in replacement for Ethereum”

Binance has been actively expanding in the sphere of DeFi recently and offering a mix of DeFi and CeFi products.

Besides, it has launched the Binance Smart Chain (BSC) platform fully compatible with Ethereum and EVM, encouraging a seamless transfer of dapps from ETH (with its extremely high fees) to BSC.

Former Monero lead dev Riccardo Spagni has recently called BSC a “drop-in replacement for Ethereum”.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.