3,000 Bitcoin Worth $234.9 Million Moves From Binance to Unknown Wallet

A 3,000 Bitcoin (BTC) transfer worth $234.9 million moved from Binance to an unknown wallet early Nov. 2, leading four large moves with $266.3 million in exchange outflows.

Together, the four transfers were worth $556.8 million in the three hours ending at 4 a.m. ET. None of the tracked moves sent assets from an unknown wallet into an exchange.

Both Binance transfers occurred at 1:10 a.m. ET. The second moved 100 million TRX worth $31.4 million to an unknown wallet. Those two transfers accounted for all exchange outflows in the group.

The remaining $290.5 million moved between unknown wallets in two Bitcoin transfers. At 2:13 a.m. ET, 1,500 BTC worth $117.2 million went to a new wallet. At 3:30 a.m. ET, 2,220 BTC worth $173.3 million went to another new wallet.

An earlier large-transfer window also included a 3,000 BTC move from Binance to an unknown wallet, valued at $233.8 million.

Exchange deposits are often watched as a potential sign of selling, while withdrawals are watched as a potential sign of holding assets elsewhere. A transfer’s direction alone does not establish the owner’s plans.