Crypto Updates

Massive Bitcoin Whale Deposits Over $468,000,000 Worth of BTC to Binance

Most Dogecoin Holders Are in Profit While Majority of Shiba Inu Owners Remain Underwater: IntoTheBlock

A crypto whale is moving hundreds of millions of dollars worth of Bitcoin (BTC) to Binance, the world’s largest crypto exchange platform by volume.

New data from market intelligence firm Lookonchain shows the deep-pocketed investor started moving massive amounts of Bitcoin to Binance on June 27th – and just moved hundreds of more BTC to the exchange.

As of July 8th, the whale has moved more than $468 million worth of Bitcoin to Binance.

“The whale deposited 809 BTC ($45.18 million) to Binance again [July 8th]. He has deposited 7,790 BTC ($468 million) to Binance since June 27th and currently holds 6,559 BTC ($379 million).”

The German government is also continuing to move large amounts of Bitcoin to crypto exchanges, according to Lookonchain.

“The German government transferred 1,000 BTC ($55.8 million) out again [on July 8th], of which 500 BTC ($27.9 million) was deposited to Coinbase and Bitstamp.”

Germany was first spotted moving Bitcoin to exchanges in June. The BTC was seized by German authorities as part of an investigation into, a now-defunct illegal streaming site that was accused of distributing more than 880,000 pirated films between 2008 and May 2013.

The Dresden Public Prosecutor’s Office said that the two operators of the site purchased Bitcoin using the proceeds of their illicit activities. Police confiscated nearly 50,000 BTC worth $2.17 billion at the time.

Bitcoin is trading for $55,905 at time of writing, down more than 11% in the last seven days.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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