A significant Bitcoin holder, identified by wallet address ’12d1e4′, has deposited 1,000 BTC (valued at approximately $106.06 million) to the cryptocurrency exchange Binance.
This transaction represents the latest move in a sustained selling pattern initiated by the whale since April 2024. To date, the entity has transferred a total of 6,500 BTC to exchanges – equivalent to roughly $585 million based on transaction valuations at execution times.
Following this recent deposit, the whale retains a substantial Bitcoin reserve of 3,500 BTC, currently valued at approximately $363.5 million. The consistent transfers to Binance, a platform commonly utilized for liquidations, indicate a progressive divestment strategy spanning multiple months.
While the motivations remain undisclosed, cryptocurrency analysts often interpret such large-scale sequential transfers to exchanges as preparatory steps for potential asset sales.