Bitcoin Whale Sends $50M to Binance, Taking $9.4M Loss Amid Market Slump

A crypto wallet labeled “bc1qka” transferred 810 BTC, valued at approximately $50.82 million, to Binance about 16 hours ago, incurring an estimated loss of around $9.4 million.

The move comes against the backdrop of continued weakness in the cryptocurrency market, where Bitcoin has declined 21.7% over the past month and is trading near $63,588 at the time of reporting.

Source: Onchain Lens