According to newly disclosed blockchain tracking data from Lookonchain, a crypto whale with the identifier 3NVeXm executed another significant transfer operation on February 12.
Monitoring records show this whale address moved 1,800 BTC to Binance, currently valued at around $122 million. The transaction has drawn significant market attention as analysts watch for potential selling pressure.
Consecutive Large-Scale Movements Spark Analysis
Notably, this address previously sold 5,000 BTC through centralized exchanges just 24 hours earlier, representing a massive $343 million transaction. The consecutive on-chain activities suggest the whale is implementing a strategic asset liquidation plan.
- February 11: Sold 5,000 BTC ($343M)
- February 12: Transferred 1,800 BTC ($122M) to Binance
Market analysts suggest this staged approach may aim to minimize market impact while reflecting the holder's assessment of current price levels.