Binance transferred 127 thousand Bitcoin (BTC) worth $2.06 billion from one cold wallet to another.
While this Bitcoin transfer was echoed on Twitter, users wondered the reason for the transfer. On the other hand, Bitcoin is currently trading at $ 16 thousand.
Over 127K Bitcoins Transferred To A Wallet By Binance
Bitcoin (BTC) price dropped sharply and broke the $16.5k support level today. Analysts are waiting for $14.5k to arrive in Bitcoin to confirm the bottom. On the other hand, some analysts believe that the BTC price may rise from current levels based on the old dynamics of the bear market.
Binance CEO CZ made a statement on his Twitter account, after more than 127 thousand Bitcoins moved. CZ said the move is part of the Proof of Reserve Audit.
https://twitter.com/cz_binance/status/1597192848025464833
In a tweet on November 28, Whale Alert revealed that 127,351 BTC worth $2.06 billion was transferred from crypto exchange Binance to an unknown wallet. The crypto community has expressed concern about the reason behind the massive amount of Bitcoin moving from Binance.
Lookonchain revealed that Binance did indeed transfer all 127,351 BTC from a cold wallet to a new wallet address. Binance cold wallet is now worth zero. Meanwhile, the crypto community is debating what levels might come in BTC as Bitcoin sees a sudden sell-off today.
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