According to the on-chain tracking platform Whale Alert on Tuesday (August 27), an anonymous cryptocurrency whale transferred 30,000 bitcoins, equivalent to approximately US$1.887 billion, from an "unknown wallet" to Binance, the world's largest cryptocurrency exchange.
Arkham data showed that the anonymous whale was marked as "Binance cold wallet", revealing the operator behind the scenes to the market.
It is reported that this large transaction should be sorted out by Binance's internal wallet. 45,177 of the 75,177 bitcoins were transferred to another newly created wallet address, the full name of which is 3PXBET2GrTwCamkeDzKCx8DeGDyrbuGKoc.
In the Asian market on Tuesday, Bitcoin fell to a low of $58,065, and the bears continued to control the steering wheel at $60,000.
Finbold reported that whales are reducing their investments in Bitcoin and other high-market-cap cryptocurrencies because of their lower returns. This shift is indicative of a broader trend in which large investors seek higher potential returns from alternative assets.
Recently, a Bitcoin whale made headlines by moving most of its capital from Bitcoin to Cardano (ADA) and memecoin MoonTaurus (MNTR), which showed good growth potential.
This strategic shift comes as ADA is poised for a massive rally, with analysts predicting that ADA’s value will increase by 2,222% to hit new all-time highs by 2025. This prediction comes after Cardano experienced a long period of consolidation, during which the coin was traded below $1.
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According to cryptocurrency analyst Alan Santana, ADA is currently experiencing a “minor correction” that is setting the stage for an explosive breakout. ADA is expected to rise to $8.50 per coin, which would not only mark a significant recovery from its recent lows, but could also make ADA a major player in the cryptocurrency market with a market cap approaching $300 billion.
In addition to the unusual movements of giant whales, there were also negative news from the US market.
The U.S. Securities and Exchange Commission (SEC) has charged two brothers with allegedly operating a $60 million crypto Ponzi scheme that used a crypto trading bot that never existed.
In a complaint filed Monday in the U.S. District Court for the Northern District of Georgia in Atlanta, the SEC alleges that Jonathan Adam and his brother, Tanner Adam, lured more than 80 people by claiming that operating a crypto bot could generate 13.5% monthly returns for investors.
The SEC alleges that from January 2023 to June 2024, the brothers told investors that their bots found arbitrage trading opportunities on crypto platforms and could buy and sell assets simultaneously to take advantage of tiny price differences between different markets.
Investors’ funds are pledged into a lending pool to fund the flash loan and complete the transaction, with assets being borrowed and returned in the same blockchain transaction.
Justin Jeffries, associate director of enforcement at the SEC’s Atlanta regional office, said the trading scheme was completely fraudulent and the robot did not exist.
Separately, Bitcoin mining company Rhodium Enterprises has filed for voluntary bankruptcy under Chapter 11 of the U.S. Bankruptcy Court for the Southern District of Texas, with liabilities of up to $100 million. The document was filed on August 24 and includes six subsidiaries: Rhodium Encore, Jordan HPC, Rhodium JV, Rhodium 2.0, Rhodium 10MW and Rhodium 30MW.
According to the filing, the company has debts between $50 million and $100 million, while its total assets are estimated to be between $100 million and $500 million.
According to the on-chain tracking platform Whale Alert on Tuesday (August 27), an anonymous cryptocurrency whale transferred 30,000 bitcoins, equivalent to approximately US$1.887 billion, from an "unknown wallet" to Binance, the world's largest cryptocurrency exchange.
Arkham data showed that the anonymous whale was marked as "Binance cold wallet", revealing the operator behind the scenes to the market.
It is reported that this large transaction should be sorted out by Binance's internal wallet. 45,177 of the 75,177 bitcoins were transferred to another newly created wallet address, the full name of which is 3PXBET2GrTwCamkeDzKCx8DeGDyrbuGKoc.
In the Asian market on Tuesday, Bitcoin fell to a low of $58,065, and the bears continued to control the steering wheel at $60,000.
Finbold reported that whales are reducing their investments in Bitcoin and other high-market-cap cryptocurrencies because of their lower returns. This shift is indicative of a broader trend in which large investors seek higher potential returns from alternative assets.
Recently, a Bitcoin whale made headlines by moving most of its capital from Bitcoin to Cardano (ADA) and memecoin MoonTaurus (MNTR), which showed good growth potential.
This strategic shift comes as ADA is poised for a massive rally, with analysts predicting that ADA’s value will increase by 2,222% to hit new all-time highs by 2025. This prediction comes after Cardano experienced a long period of consolidation, during which the coin was traded below $1.
Free close communication skirt +V: YYOU335
No threshold, no fees, no exchanges, no transaction links
According to cryptocurrency analyst Alan Santana, ADA is currently experiencing a “minor correction” that is setting the stage for an explosive breakout. ADA is expected to rise to $8.50 per coin, which would not only mark a significant recovery from its recent lows, but could also make ADA a major player in the cryptocurrency market with a market cap approaching $300 billion.
In addition to the unusual movements of giant whales, there were also negative news from the US market.
The U.S. Securities and Exchange Commission (SEC) has charged two brothers with allegedly operating a $60 million crypto Ponzi scheme that used a crypto trading bot that never existed.
In a complaint filed Monday in the U.S. District Court for the Northern District of Georgia in Atlanta, the SEC alleges that Jonathan Adam and his brother, Tanner Adam, lured more than 80 people by claiming that operating a crypto bot could generate 13.5% monthly returns for investors.
The SEC alleges that from January 2023 to June 2024, the brothers told investors that their bots found arbitrage trading opportunities on crypto platforms and could buy and sell assets simultaneously to take advantage of tiny price differences between different markets.
Investors’ funds are pledged into a lending pool to fund the flash loan and complete the transaction, with assets being borrowed and returned in the same blockchain transaction.
Justin Jeffries, associate director of enforcement at the SEC’s Atlanta regional office, said the trading scheme was completely fraudulent and the robot did not exist.
Separately, Bitcoin mining company Rhodium Enterprises has filed for voluntary bankruptcy under Chapter 11 of the U.S. Bankruptcy Court for the Southern District of Texas, with liabilities of up to $100 million. The document was filed on August 24 and includes six subsidiaries: Rhodium Encore, Jordan HPC, Rhodium JV, Rhodium 2.0, Rhodium 10MW and Rhodium 30MW.
According to the filing, the company has debts between $50 million and $100 million, while its total assets are estimated to be between $100 million and $500 million.
