Tag: Binance

Categories
Other Service info Wallet

TAG Binance : Important Updates

All Binance addresses have been tagged with description:

  • Deposit Wallet
  • Cold Wallet
  • Hot Withdrawal Wallet
  • others of different use (e.g. Pool)

Why is TAG important and how to interpret the information?

Binance has a 3-tier structure (with minor exceptions).

  • Deposit Wallet : users’ deposit addresses
  • Hot Withdrawal Wallet : addresses for withdrawals
  • Cold Wallet : are long-term storage addresses

Tag differentiation allows the user a quick understanding of the movement. Rather than seeing a simple In/Out from today you will see (on Binance, but work is being done on improving all exchanges) the detail of the movement.

In the diagram above we have a simplified view of how Binance’s Bitcoin management works in broad strokes.

Deposit Wallets are the addresses that, trivially, the user displays in his Binance account to make the deposit; when the user/entity deposits more than 200 Bitcoins at that point BtcInOutAlert notifies the inflow. Thereafter, Binance typically moves the inflow to another Binance address, in most cases to the Withdrawals Wallet. In contrast, the opposite reasoning applies to outflows, where Bitcoins are sent from the Withdrawals Wallet to an external address (outflow) not in Binance’s control.

The most important movements, as can be imagined, are those inbound (inflow) to Deposit Wallets, and outbound (outflow) from the withdrawal wallet to external addresses.

All Binance addresses have been Taggated with the aim of improving the service offered and offering a detail to date not available from any alternative service to BtcInOutAlert, with the goal in the coming weeks of expanding the details of the Notification Tags to most addresses.

If you would like to receive real-time notifications and access to premium data, please follow the LINK

Categories
Onchain Analysis

Analysis of 13,820 Bitcoin Outflow from Binance

[adinserter name=”CoinAdsenseRotation”]

[adinserter name=”CoinAdsenseRotationMobile”]

Late in the US evening, as night came and asia woke up, a major Bitcoin Outflow from Binance.

A quick analysis showed some correlation between the news, a reopening to China’s cryptocurrency trading (https://www.cdex.cn/), and from the chart showing correlation with price:

Closed analysis? Not exactly. Onchain data is now within everyone’s reach, and similar movements can trigger euphoria and price movements, it has happened many times before . Manipulation is part of the system, and this is what has most likely happened.

Going to analyze the movement we can see that the outflow starts from a Binance address that is well integrated into the Binance ecosystem, i.e., any movement to and from occurred exclusively from and to Binance addresses.

What does not add up, and what makes this most likely an internal Binance movement, is that the outflow did not occur from the classic Hot Wallet, but occurred from a secondary Cold Wallet, emptied, and with the routing of the total amount of Bitcoins to a virgin address, but with a typical trace and repeatedly used by Binance to “mark” its addresses, this for example has happened before during Audits.

We can therefore regard it as an internal movement that has nothing to do with accumulation.

What should give pause for thought is yet another huge internal Binance move, from a known Binance address to a virgin address, in the middle of the European night and late in the U.S. evening with markets closed, with no advance notice of movement.

The obvious attempts at manipulation, even in light of connections and mutual support with opaque onchain services, should make users reflect on which onchain services should be deemed trustworthy, transparent, and which ones lend themselves to power plays and collusion with the sole purpose of misleading users and draining them of their Satoshi.

BtcInOutAlert

Other Charts

Netflow

Address Distribution

Volume

Other Data
Latest Insights and Info

Categories
Onchain Analysis

Analysis on Binance Outflow

Movements are still taking place, so onchain analysis is done with updated data until the post is published. Follow the live data (find the menu at the bottom of the page) to stay updated in real time.

[adinserter name=”CoinAdsenseRotation”]

[adinserter name=”CoinAdsenseRotationMobile”]

In the last 48 hours, a significant amount of Bitcoin have flowed out of Binance, large amounts that deserve a closer look.

We can certainly call the outflows “anomalous,” anomalous because the anomalies are multiple.

In our short history (the first BtcInOutAlert data were published in May/June 2021) we have been able to verify several outflows and accumulations, the most important one certainly in July 2021. The accumulations that have occurred to date that have led to lasting rebounds have distinct characteristics:

  • occur from multiple exchanges
  • outflows are often few transactions of large amounts (even above 5000 Btc)
  • occur and continue during the correction (i.e., dutante the descent)

The characteristics of the outflows of the last 48 hours have none of the peculiarities that have occurred in the past, namely:

  • have occurred exclusively from Binance. In the last 60 hours Bitcoin have outflowed almost exclusively from Binance (we are close to 100%). Other exchanges have not had Outflow, in fact Netflow is often positive (more inflow than outflow)
  • transactions are very numerous, and of amounts almost all (97%) less than 200 Btc per transaction
  • occurred days after the end (to date) of the descent/correction, and not during the descent/correction

The type of ouflow should therefore prompt the user to ask questions.

By looking at the Report data, it is possible to view aggregate data, i.e., the numbers displayed are the difference between inflow and outflow of ALL Exchange Spots we track.

The Weekly value starts at midnight Monday. 50,000 Bitcoin have left the exchanges in the past 60 hours. As of 00 UTC Monday (i.e., about 60 hours ago) there were 97,192 Bitcoin in the Binance Withdrawals Wallet (bc1qm34lsc65zpw79lxes69zkqmk6ee3ewf0j77s3h); right now there are 43,373 Bitcoin, for a negative balance of -53,819 Bitcoin.

The totality of outflows present are attributable to Binance, certainly an important anomaly.

Analyzing outgoing transactions from Binance Hot Wallet we see that, again in the last 60 hours, a total of 2040 outgoing transactions occurred , of these 2040 as many as 1970 are outgoing transactions of less than 200 BTC, or almost 97%.

We can therefore say that the totality of outgoing transactions are transactions of less than 200 Bitcoin.

WARNING! 97% of the transactions are less than 200 Bitcoins does not mean that they are individual 200 Bitcoin Outflows, but that the total is 200 Bitcoins, but then each transaction is also distributed to hundreds of different addresses.

As always, we simply pose evidences; the conclusions are up to the user.

See our Live data using the menu below.

BtcInOutAlert

Other Charts

Netflow

Address Distribution

Volume

Other Data
Latest Insights and Info

Categories
Onchain Analysis Other

Binance Hot Wallet 38,000 BTC OUTFLOW

A rather anomalous outflow movement from the Binance Hot wallet has occurred in the past few hours. Over 38,000 Bitcoin (About $661 million) have been transferred out of the Binance wallet in just 48 hours. As can be seen on every timeframe, the Outflow is way out of scale.

Bitcoin Netflow H1 Exchange Binance Hot Wallet 38,000 BTC OUTFLOW

[adinserter name=”CoinAdsenseRotation”]

[adinserter name=”CoinAdsenseRotationMobile”]

Bitcoin Netflow H4 Exchange Binance Hot Wallet 38,000 BTC OUTFLOW

An abnormal event in a short period of hours, all the more so at the current price level, especially from one exchange : Binance.

Report Netflow Exchange Binance Hot Wallet 38,000 BTC OUTFLOW
Source : https://btcinoutalert.net/Live-Report/

All Bitcoins are coming out of the Binance Hot Wallet, a single address : bc1qm34lsc65zpw79lxes69zkqmk6ee3ewf0j77s3h

In recent hours there have been unhappy reports about Binance and its possible failure to cover.
We will be following very very closely in the coming hours; we may be at the beginning of something very very important.

Outflow movements are still occurring, so new updates will follow.

Is this a accumulation or a Bankrun Start?

Logo

Other Charts

Netflow

Address Distribution

Volume

Other Data
Latest Insights and Info

Categories
Onchain Analysis

What happens to the Binance BTC-B Bitcoin wallet?

[adinserter name=”CoinAdsenseRotation”]

[adinserter name=”CoinAdsenseRotationMobile”]

As is always the case, large amounts of bitcoin on the chain create extreme excitement, euphoria or panic, even more extreme excitement when the movement occurs from one of the addresses owned by larger exchanges: Binance.

Big movements from Binance Wallet

During the early hours of November 18, 2022 , from the address traceable to Binance dedicated to the BTC-B peg 3LYJfcfHPXYJreMsASk2jkn69LWEYKzexb various movements to and from, through multiple addresses all traceable to Binance are reported.

It is important to know up front that all movements are zero-sum, meaning that the same amount of Bitcoin is in Binance wallets both before and after the movements.

The certainty that the wallet is traceable to Binance and dedicated to the BTC-B peg comes directly from the owner of the address according to several sources :

What is BTC-B and how does it work?

According to Binance’s own definition, BTC-B is :

Bitcoin BEP2 (BTCB) is a token on Binance Chain issued by Binance, where the price is pegged to BTC at a rate of 1 BTCB = 1 BTC. BTCB is 100% backed by the same amount of BTC in our public reserve address below.

Binance Press Release

and again :

The main benefit of offering crypto-pegged tokens is that, obviously, this makes available to Binance DEX traders the many coins that have their own blockchains and aren’t native on BNB Chain.

Binance Press Release

Simply put, Binance stores Bitcoin reserves in a dedicated address, verifiable address to ensure liquidity on its chain.

Bitcoin Binance reserves track liquidity. The more liquidity on the Binance chain, the more Bitcoin reserves are held in reserves.

Will the Bitcoin removed from liquidity be SOLD at market?

This question will not be answered, but you will give yourself an answer, and the whole thing is based on logic. To give you an answer you first need to understand how liquidity works on the Binance chain, and again we quote Binance’s words :

This provides an easy way for anyone to convert from the pegged token back into the native coin on Binance.com. If this buy order is filled, a new order will be placed while an equal amount of funds will be deposited from the reserve address into Binance.com. The sum of the buy order and the funds on the published reserve address will be bigger than the total supply of the pegged token, ensuring there is always 100% backing.

If those Bitcoin were subtracted from the reserves of the Binance BTC-B address this is a consequence of liquidity leaving the Binance chain, not the other way around. If there is less liquidity on the Binance chain less Bitcoin are needed as collateral, not the other way around.

Is this liquidity outflow bullish or bearish?

This Bitcoin liquidity coming out of the BTC-B reserve addresses are neither bearish nor bullish, but reflect what on the Binance chain HAS ALREADY HAPPENED.

The fear instilled by some people is a very sad story!

BtcInOutAlert, 18 November 2022

Other Charts

Netflow

Address Distribution

Volume

Other Data
Latest Insights and Info

Categories
Onchain Analysis

Binance increases its BEP2 (BTCB) reserves

A movement of more than 50000 bitcoins from Binance’s Cold Wallet has occurred in the past few hours.
The movement was necessary to increase the balance sheet balances and reserves of the Binance BEP2 Wallet (BTCB).

As can be seen from the image, the number of bitcoins exited from the binance cold wallet is 2000, including 1293 from the main cold wallet, plus 707 from secondary Binance addresses

Source : Bitquery.io screenshot

Other Charts

Netflow

Address Distribution

Volume

Other Data
Latest Insights and Info

Categories
Onchain Analysis

Outflow 52360 Bitcoin from Binance?

An alternative netflow service indicated an outflow of 52.360 Bitcoin from Binance. Is this real?

NO, it is a MEGA Fake News. Binance performed an internal movement of 30.000 BTC in cold wallet, remaining 51.841 are in a Change Address, so same owner, so still Binance

BtcInOutAlert in Live on the Bitcoin netflow movement
BtcInOutAlert regularly reported IN REAL TIME what was happening.
TX : a98b4b1eb25166cda54abb9e90f7f2b57dae402ab6f995a27a5e3763ab625e5d - Movement
TX : a98b4b1eb25166cda54abb9e90f7f2b57dae402ab6f995a27a5e3763ab625e5d

“Fake News – Person Reading Fake News Article” by mikemacmarketing is licensed under CC BY 2.0.

Latest Insights and Info

Categories
Onchain Analysis

Accumulation in progress?

Distribution of addresses greater than 10k Bitcoin

Analysis on addresses over 10k Bitcoin

Are Institutions and Funds Accumulating Bitcoin ?

Is it true what onchain services and people are currently stating, that INSTITUTIONAL and FUNDS are accumulating Bitcoin?

This is a partial analysis, in fact we are only going to deep dive on wallet above 10k BTC (>$200m), since those are the most representative ones for possible accumulation of Funds and Institutionals

NOW we have 101 wallet with balance greater than 10k

Addresses greater than 10k bitcoin

Addresses with #BTC balances greater than 10k are 20% of the total circulating. Chart showing distribution of Exchange, Hack & Confiscated, old holders.

Considering wallet with a balance greater than #1k Bitcoin the trend is even declining, so those greater than 10k are key

As can be seen most of the wallet above 10k are now bitcoin in the hands of exchange and only a tiny fraction are Holder Fund-Institutional. Only 4% are effective accumulation of the total above 10k

With this data can we talk about accumulation?

Latest Insights and Info