A recent spree of activity in the crypto wallets has caught the attention of market observers. According to Lookonchain, a well-known platform for on-chain analytics, two exclusive wallets recently withdrew assets worth over $120 million and $69.56 million from the popular exchange Binance. The analytics company shared this development on its official X account on the social media platform.
One of these wallets, identified as a notable whale or institution, also purchased 1,162 $BTC ($69.56M) in addition to the substantial withdrawals made. Another newly created wallet withdrew 1,162 $BTC from Binance just two hours prior. Both wallets were established six days ago and initiated test transactions with Binance.
In a recent update, Lookonchain highlighted that one of the wallets executed multiple withdrawals of digital assets, with the leading asset being the stablecoin $USDT. This wallet withdrew nearly 40.7 million $USDT and also redeemed 9,425 $ETH, totaling around $30.15 million.
Furthermore, the same wallet withdrew additional assets from Binance, including 957.77 billion $PEPE ($9.84M), 583.78 billion $SHIB ($9.68M), 16,192 $BNB ($9M), 58.15 million $DOGE ($6.95M), 438,721 $RNDR ($3.17M), 5.18 million $MATIC ($2.81M), and more.
Another wallet made significant redemptions, with $FLOKI tokens valued at $1.56M, $LINK tokens at $1.5 million, $AVAX tokens at $1.05M, and $GRT tokens at $556K. Additionally, this wallet withdrew 1,162 $BTC, equivalent to $69.56 million, while a separate whale entered the market by purchasing the same amount of 1,162 $BTC.