Binance Receives $102.9 Million in USDC as Four Transfers Total $305.3 Million

Four large crypto transfers totaling $305.3 million were recorded in the three-hour window through 7:01 a.m. ET Thursday, Nov. 5, as more value moved to Binance and Wintermute than left Coinbase Institutional.

Transfers from unknown wallets to Binance and Wintermute totaled $200.2 million, $95.1 million more than the $105.1 million sent from Coinbase Institutional to unknown wallets.

At 5:40 a.m. ET, an unknown wallet moved 102,886,450 USD Coin (USDC), valued at $102.9 million, to Binance. Earlier, at 4:06 a.m. ET, another unknown wallet transferred 1,208 Bitcoin (BTC) worth $97.3 million to Wintermute.

Coinbase Institutional sent 662 BTC worth $53.2 million and 646 BTC worth $51.9 million to unknown wallets at 6:55 a.m. ET. Both withdrawals were recorded at the same time, and together they made up the $105.1 million sent from Coinbase Institutional during the window.

Market watchers may view transfers to exchanges as possible selling activity and movements to unknown wallets as potential holding. The transactions show where the funds moved, but do not establish whether the owners sold the assets or what they planned to do next.

Enna Lee

Enna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to [email protected].