A bitcoin (BTC) whale has transferred more than $20 million worth of bitcoin to Binance, adding to recent instances of large holders moving funds to crypto exchanges.
Arkham Intelligence data shows that the whale address "bc1q…kp4n" moved roughly 300 BTC to a Binance deposit address on Tuesday. The wallet still holds about 200 BTC, worth approximately $13.75 million.
Between January and March 2025, the wallet accumulated roughly 513 BTC, worth about $50 million at the time, indicating an average purchase price of $97,541, according to The Block's calculations based on Arkham data.
While it's unclear whether the whale transferred the bitcoin to sell, such activity typically precedes selling by holders. If the whale does intend to sell the bitcoin, it would be doing so at a loss, with BTC currently trading at roughly $68,692.
The move coincides with a fresh wave of whale activity in crypto markets. Last month, a bitcoin wallet moved 2,100 BTC ($147.7 million) that had previously remained untouched for over 13 years, while another bitcoin whale moved $33 million worth of BTC to Binance.
Bitcoin edged down 0.6% over the past 24 hours to trade at $68,692 as of 4 a.m. ET on Tuesday, according to The Block's BTC price page. The world's largest cryptocurrency remains down 45% from its all-time high of around $124,900 recorded in October 2025.
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