2,400 Bitcoin Transfer Leads $622.0 Million in Three-Hour Crypto Moves

Six large crypto transfers worth $622.0 million occurred during a three-hour period ending at 7:01 a.m. ET Wednesday, Nov. 11, led by a 2,400 Bitcoin (BTC) move from Ceffu to an unknown wallet.

The Ceffu transfer took place at 4:02 a.m. ET and was valued at $176.9 million. Five transfers from unknown wallets to Binance and Kraken totaled $445.2 million.

At 4:18 a.m. ET, an unknown wallet sent 104,528,925 USD Coin (USDC), worth $104.6 million, and 101,907,464 Tether USDt (USDT), worth $101.9 million, to Binance. At 6:06 a.m. ET, 833 BTC ($61.7 million) went to Kraken. Binance received 1,392 BTC ($103.0 million) at 6:21 a.m. ET and 1,000 BTC ($74.0 million) at 6:54 a.m. ET.

The Nov. 11 tally followed a three-hour crypto transfer tally on Nov. 10 that included 13 moves valued at $1.48 billion.

Exchange deposits are sometimes watched as potential selling activity, while transfers away may be viewed as potential holding. Transfer direction alone does not establish what wallet owners plan to do with the assets.