Binance, the world’s largest cryptocurrency exchange, recently announced that a large Bitcoin transfer will be made and that this is related to normal wallet maintenance.
Large BTC transfers can sometimes cause investors to become uneasy. Therefore, Binance previously stated that this transaction was a transfer between its own wallets.
Announcing that there will be regular maintenance on Binance wallets, Binance said that a large amount of Bitcoin will be moved to other addresses during this maintenance.
Pointing out that these transfers are normal, Binance said that this is not a BTC outflow.
“Binance will perform normal wallet maintenance.
Normal wallet maintenance will mean transferring a large amount of BTC to another address.
You can find these addresses listed in our reserve evidence.
As part of the transfer, you will also see that BTC has been moved to a new change address. “This is not a BTC exit.”
For usual wallet maintenance, #Binance will be transferring a large amount of #BTC to another of our addresses.
These addresses can be found listed in our proof-of-reserves.
As part of the transfer, you will also see #BTC move to a new change address – this is not an outflow.
— Binance (@binance) March 5, 2024
*This is not investment advice.