Scientists Discover Binance’s Bitcoin Stash Has Gotten Too Big for Its Own Good

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Markets

What to know:

  • Binance-linked wallets now hold 676,835 BTC-a volume that last visited in November 2024 and represents a modest 9.3% climb from the low point of this year.
  • Higher balances on the exchange are interpreted by some as a harbinger of downward price movement.
  • One of the crypto whalebones reportedly transferred about $760 million in Bitcoin into Binance’s coffers this past Sunday, according to Arkham.

The pile of Bitcoins locked in wallets tied to Binance keeps swelling, as recorded by the data snoopers at CryptoQuant.

On Sunday, the tally hit 676,834.84 BTC (a staggering $44.53 billion), a level no longer seen since the last November of 2024, creating a 9.3% jump from the pedestrian low of 618,782 in the same month. CoinDesk tried to reach Binance for their side of the story.

Such swelling balances, like a refrigerator full of unclaimed oranges, are read as a signal that investors might either sell off or stash their coins as collateral for derivative play, both of which tend to stir up price turbulence.

The surging high over the weekend was likely triggered by a well-known whale gravitating a sizable amount of BTC into Binance.

Blockchain sleuths at Arkham reported on Sunday that a crypto whale-possibly Garret Jin, who runs on Hyperliquid’s cross-chain infrastructure Hyperunit-shoved $760 million worth of Bitcoin into Binance. This considerable move came about six days after the same entity moved half a billion dollars of Ether to Binance.

Whether the whale has already liquidated any of those coins remains unknown, yet that possibility cannot be discounted, as Bitcoin’s price slid from $67,600 to $64,400 during the Asian trading session early Monday. Since then it has whispered back to about $65,850.

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2026-02-23 13:59