This is Binance moving funds from one cold wallet to another cold wallet. Both wallets are Binance cold wallets. People are stupid. This has got nothing to do with a whale nor is anything about this transaction unknown.
If they were intending to sell they'd keep it on the exchange not move it off the exchange, to a safe, long-term storage. Looks like someone intends to HOLD a shitload of btc. Probably saw the current trend and said "fuck it" moved it all out of exchanges and won't bother moving back until improved times.
Dismantech1 - 2 years account age. 200 - 1000 comment karma.8 months ago
The title is misleading. Looks like someone bought on Binance during the dip and moved to a private wallet (most likely cold storage). So most likely it will not be a sell off, but the opposite (long term HODL). This is actually bullish AF. You don't just spend $600M if you don't know what you're doing.
smarttiesCrypto God | CC: 74 QC | OMG: 27 QC8 months ago
What is the other address ? If it's not an exchange it means nothings, there is dozen transaction like that every day.
Honestly what's more likely? How many people do you know that could have that many bitcoins who would suddenly decide *today* of all days that it's a good time to dump his accumulation.
shanecorryCrypto God | CC: 62 QC | NANO: 41 QC8 months ago
Even if they were to sell, with that amount they'd for sure sell OTC because if they sold that on the markets they'd lose a ton on slippage so there would likely be minimal change in price from them selling off.
exactly! not that i'm planning on buying - as i don't have any spare money -, but if you believe in blockchain in the long run, then it certainly would be a nice opportunity if the market crashed further. Most people are planing on holding for a couple of years at least, so why does the current price matter? If you have money to spare, and believe in the projects you are invested in, then the rational thing would be to hope for the market to crash further :)
Personally I don't "hope" the market goes up or down for now. I just don't care for the price for at least the next few years. If I have spare money that I'm gonna spend on wine regardless, why not get some coins on the side. So if I buy today vs 4 months ago I'll get more value for money. If I even buy them. Way cooler to ask to be paid in cryptocurrency if you don't really need the money.
I'm just here for the memes Tbh.