Bitcoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/whale-deposits-1800-bitcoin-to-binance-causing-price-drop/" data-wpel-link="internal">Whale Deposits 1,800 Bitcoin to Binance, Causing Price Drop</a><br></p>
<p style="text-align: justify">A whale deposited 1,800 Bitcoin worth $106 million to <strong><a href="https://en.coin-turk.com/breaking-news-binance-gave-bad-news-a-step-back-from-the-crypto-giant/" data-wpel-link="internal">Binance</a></strong>, causing Bitcoin’s price to drop to $58,560. This whale deposited $323 million worth of Bitcoin over the past week, incurring a loss of approximately $20 million. Additionally, three wallet addresses deposited 47,415 AAVE tokens worth $4.17 million to Binance. Let’s delve into the details.</p> 
<h2 style="text-align: justify" id="whale-movement-and-bitcoin-price-fluctuations">Whale Movement and Bitcoin Price Fluctuations</h2> 
<p style="text-align: justify">In the crypto world, whales are individuals or institutions holding large amounts of cryptocurrency. Typically, whales can cause significant market fluctuations with their large-volume transactions. The whale in question caused a sudden drop in <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">market price</a> by depositing 1,800 Bitcoin to Binance.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="wp-image-367786 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/07/btc-4.png" alt="" width="497" height="447"></p> 
<p style="text-align: justify">This whale deposited 1,800 Bitcoin (BTC) worth $106 million to the cryptocurrency exchange Binance. This large transaction caused Bitcoin’s price to drop to $58,560.</p> 
<h2 style="text-align: justify" id="whale-was-very-active-throughout-the-week">Whale Was Very Active Throughout the Week</h2> 
<p style="text-align: justify">This whale was very active throughout the week. By depositing a total of 5,281 Bitcoin to Binance, the cumulative value of these deposits reached $323 million. During this period, Bitcoin’s average price was $61,196. However, the whale incurred a loss of approximately $20 million during these transactions.</p> 
<p style="text-align: justify">Currently, the whale still holds a significant amount of Bitcoin. The total holding is 6,068 BTC, valued at $358 million at current market prices. This indicates that despite recent transactions and market movements, the whale continues to hold a substantial share in Bitcoin.</p> 
<h2 style="text-align: justify" id="whale-aave-transactions">Whale AAVE Transactions</h2> 
<p style="text-align: justify">In addition to Bitcoin transactions, there was notable activity involving another cryptocurrency, <strong>AAVE</strong>. Eight hours ago, three wallets deposited a total of 47,415 AAVE tokens to Binance. The total value of these deposits is approximately $4.17 million. The intention behind this move seems to be selling these AAVE coins on the exchange.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-367787 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/07/aave.png" alt="" width="496" height="493"></p> 
<p style="text-align: justify">The actions of whales and large institutions can significantly impact cryptocurrency markets. Their transactions can lead to price fluctuations, as seen in the recent Bitcoin price drop. Such large-scale sales also draw direct interest from the crypto community. At the time of writing, BTC was trading at $58,894.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/whale-deposits-1800-bitcoin-to-binance-causing-price-drop/" data-wpel-link="internal">Whale Deposits 1,800 Bitcoin to Binance, Causing Price Drop</a></h5>

Whale Deposits 1,800 Bitcoin to Binance, Causing Price Drop

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