Whale Seeking Long in Bitcoin Made a Large Transfer to Binance!

Millions of dollars of transactions made by the cryptocurrency whale were interpreted as searching for longs in Bitcoin (BTC).

According to the data transmitted by the on-chain analysis platform Lookonchain, a whale stood out with its transaction on July 26.

The whale in question first withdrew 494 Bitcoins worth $31.7 million from the cryptocurrency exchange Binance. The whale's Bitcoin purchase cost from Binance was recorded as $64,232. He then deposited these assets into the DeFi platform Aave (AAVE) since July 4.

Shortly after, the whale borrowed $12 million worth of USDT from AAVE and sent all of these assets back to Binance.

Lookonchain analysts said that this whale may have undertaken such a job to take a long position in Bitcoin.

According to CoinGecko data, Bitcoin, which has increased by 5% in the last 24 hours, is traded at $ 67,111 at the time of writing.

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