Binance Reserve Wallet Adds 43,000 BTC amid Crypto Rout

Binance Reserve Wallet

A Binance wallet bought an additional 43,000 BTC on Tuesday at an average price of $46,553.68 to bring the total value to $5.5 billion in the current bearish market.

Binance exchange has confirmed wallet ownership in a tweet dated June 17, 2019, where the wallet was meant to issue cryptocurrency-pegged tokens on the chain.

The address was marked as a Binance BTC reserve wallet in April in a post by Whale Alert and had reportedly been turned to cold storage.

The wallet has been used to mint 13,001 BTC on Binance Smart Chain, and the owner has not made any sale from the wallet reserve. It has amassed 116,601.13647202 BTC since June 17, 2019.

A third-largest BTC wallet bought 55 more bitcoins at the $40k price area to bring its total holdings to 121,396 BTC, approximately worth $5 billion as the bears take over the crypto market. 

Source: Cointelegraph

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