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Another whale move: Matrixport linked accounts transfer 5,000 BTC to Binance in one day
【Chain News】On-chain data shows that two wallets associated with Matrixport have transferred Bitcoin to Binance consecutively today. The larger transfer is 4,000 BTC, worth approximately $348 million USD. Combined with a previous transfer of 1,000 BTC (valued at $86.9 million USD), this institution has transferred a total of 5,000 BTC to the exchange in one day.
Such large concentrated transfers usually have a few possible reasons: one is that the institution is adjusting its positions, and the other is that it is preparing to trade quickly when market opportunities arise. From the data, Matrixport’s recent actions are quite noteworthy. Whether they are building a position or exiting the market, the subsequent trend will provide the answer.