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You Won't Believe Who's Moving Millions in Bitcoin on Binance Right Now

Published 9 hours ago6 minute read
You Won’t Believe Who’s Moving Millions in Bitcoin on Binance Right Now

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Bitcoin is treading cautiously below the $110,000 level, signaling a pause in momentum after recent highs. At the time of writing, the asset is priced at $106,841, marking a mild 0.4% decline over the past 24 hours.

Despite brushing a daily high of $107,884, BTC appears to be consolidating in a narrow range, with market participants watching for the next significant move.

Amid this relatively flat price action, on-chain trends suggest that not all is quiet under the surface. A new analysis by CryptoQuant contributor “oinonen” sheds light on wallet activity within Binance, one of the largest crypto exchanges by trading volume.

Oinonen’s findings point to a sharp increase in whale-level participation, as well as a notable contribution from mid-tier investors, which could have implications for broader market behavior.

Citing CryptoQuant’s on-chain metrics, the analyst revealed that Binance’s inflow data shows that wallets depositing between 10 and 100 BTC now account for 40% of all Bitcoin inflows.

aBitcoin exchange inflow on Binance
Bitcoin exchange inflow on Binance. | Source: CryptoQuant

These wallet sizes typically belong to high-net-worth individuals, trading firms, or mid-sized institutions—those who sit between retail traders and deep-pocketed whales.

In contrast, whale-level inflows (100–1,000 BTC) currently represent 20% of the total, highlighting that mid-tier players may be driving more exchange activity than larger whales at this time.

Interestingly, whale activity still made a major appearance recently. On June 16, inflows of 10,000 BTC surged and made up 83% of total exchange inflows on Binance that day, reinforcing earlier observations from Oinonen about increased whale presence over the past year. According to CryptoQuant’s whale ratio metric, that presence has reportedly jumped by as much as 400% since mid-2023.

Beyond just inflow ratios, Binance’s overall deposit metrics suggest a growing trend of larger average deposits. The average Bitcoin deposit rose from 0.36 BTC in 2023 to 1.65 BTC in 2024.

The exchange processed $21.6 billion in user fund deposits in 2024, roughly 40% more than the combined totals of the next ten crypto exchanges.

Despite the growing institutional footprint, the significant portion of deposits in the 10–100 BTC range shows that mid-level market participants remain active contributors to the trading ecosystem.

This data may reflect a broader shift in how BTC is being accumulated and moved, where influence is shared between whales and mid-sized investors.

While whale flows often generate headlines, the consistent presence of mid-tier wallets can signal healthier market participation and a more distributed form of liquidity provision across the board.

With Bitcoin still consolidating near key price levels, these on-chain trends could help shape its next breakout, whenever it comes.

Bitcoin (BTC) price chart on TradingView
BTC price is moving sideways on the 2-hour chart. Source: BTC/USDT on TradingView.com

Featured image created with DALL-E. Chart from TradingView

Samuel Edyme

Meet Samuel Edyme, Nickname - HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others.

Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis.

Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events—like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ’s arrest—has honed his keen sense of market dynamics.

When he isn’t crafting engaging crypto content, you’ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he’s catching some Z’s or scrolling through Elon Musk’s very own X platform—(oops, another screen activity, my bad…)

Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters—(don’t judge, that’s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or “kaizen,” striving to be 1% better every day. His mantras, “God knows best” and “Everything is still on track,” reflect his resilient outlook and how he lives his life.

In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He’s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck—unflappable. Edyme is like trading in your car for a jet—bold. He’s the guy who’d ask his boss for a pay cut just to prove a point—(uhhh…). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent—okay, maybe that’s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps.

Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That’s just not the way he roll. He has these favorite lyrics from NF’s “Clouds” that resonate deeply with him: “What you think's probably unfeasible, I've done already a hundredfold.”

PS—Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He’s 100% Him-alayan. Screw it, he ate the opp.

The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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