A Chinese miner has sent nearly 5,600 bitcoin , about $124 million worth, to the Binance crypto exchange, blockchain data shows, in what might be interpreted as a move to sell the holdings.
Julio Moreno, a senior analyst at CryptoQuant, indicated that the 3,336 BTC transferred on Jan. 19 was sent directly to Binance, while 94% of the 2,396 BTC transferred on Jan. 17 sat in three different wallets before landing in Binance. 1Thash’s outflows cut the miner’s holdings to zero, while the BTC reserve balance for all miners dropped to its lowest level in a year at 1.837 million, data from CryptoQuant shows.
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