Bitcoin quantity According to CryptoQuant data, funds held in wallets associated with cryptocurrency exchange Binance continue to increase.
On Sunday, the number of Bitcoins increased to 676,834.84 Bitcoins ($44.53 billion), the highest level since November 2024. That’s up 9.3% from November’s multi-month low of 618,782. CoinDesk reached out to Binance for comment.
Increased balances indicate an investor’s intention to sell tokens or use tokens as margin in derivatives trades, both of which typically result in increased price volatility.
The weekend’s high may have stemmed from a well-known whale moving a large amount of Bitcoin to Binance.
Blockchain intelligence firm Arkham said on Sunday that a crypto whale, possibly Garret Jin, operating on Hyperliquid’s cross-chain asset tokenization and bridging infrastructure Hyperunit moved $760 million in Bitcoin to Binance. The large transfer occurred approximately six days after the entity moved $500 million in ether to Binance.
It is unclear whether whales have liquidated Bitcoin, but the possibility cannot be ruled out as Bitcoin fell from $67,600 to $64,400 during the Asian session earlier on Monday. The price has since recovered slightly to around $65,850.
