Six Crypto Transfers Total $1.12 Billion as Exchange Inflows Edge Outflows

Six large crypto transfers totaling $1.12 billion took place in the three hours through 10:01 a.m. ET Monday, Nov. 2, as exchange inflows from unknown wallets exceeded exchange outflows by $8.5 million.

Transfers from unknown wallets to Binance and Bitfinex totaled $412.3 million. Exchange outflows totaled $403.8 million, including Binance’s transfer to Tether Treasury and two Bitcoin withdrawals from Coinbase Institutional.

Coinbase Institutional sent 663 Bitcoin (BTC), valued at $51.7 million, to an unknown wallet at 7:20 a.m. ET and 671 BTC, worth $52.3 million, to an unknown wallet at 7:50 a.m. ET. Unknown wallets sent 172.7 million Tether (USDT), valued at $172.6 million, to Bitfinex at 7:35 a.m. ET and 240,000,005 USDT, worth $239.7 million, to Binance at 9:39 a.m. ET.

Binance sent 300 million USDT, valued at $299.8 million, to Tether Treasury at 9:10 a.m. ET. Fifteen minutes later, Tether Treasury moved an equal amount to an unknown wallet. Both transfers were valued at $299.8 million, tying for the largest moves in the window. A similar nearly $300 million Tether Treasury transfer to an unknown wallet took place Nov. 1.

Exchange deposits are often monitored as potential selling activity, while outflows can be viewed as potential holding. Transfer direction alone does not establish whether assets were sold or held afterward.