Users’ bitcoin holdings in wallets linked to Binance have climbed to highest since late 2024.
Feb 23, 2026, 10:21 a.m.
The number of bitcoin BTC$66,380.86 held in wallets tied to the cryptocurrency exchange Binance continues to rise, according to data from CryptoQuant.
The tally rose to 676,834.84 BTC ($44.53 billion) on Sunday, a level last seen in November 2024. That marks a 9.3% rise from the multi-month low of 618,782 in November. CoinDesk reached out to Binance for comment.
Rising balances signal investor intent to sell or use coins as margin in derivatives trading, with both typically leading to increased price turbulence.
The weekend high likely stemmed from a renowned whale moving large amounts of BTC to Binance.
Blockchain intelligence firm Arkham said Sunday that a crypto whale, possibly Garret Jin, operating on Hyperliquid’s cross-chain asset tokenization and bridging infrastructure Hyperunit, transferred $760 million in bitcoin to Binance. The large transfer happened roughly six days after the entity moved half a billion dollars of ether to Binance.
It is unclear whether the whale has since liquidated coins, but the possibility cannot be ruled out, as bitcoin fell from $67,600 to $64,400 during Asian hours early Monday. Since then, it has recovered slightly to trade around $65,850.
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Bitcoin fell to $64,270 shortly after midnight UTC before rebounding to $66,300, as thin liquidity amplified moves tied to U.S. tariff plans and geopolitical tensions.
What to know:
- Bitcoin slid to $64,270 from $67,700 shortly after midnight UTC before recovering to $66,300, mirroring a dip and partial rebound in S&P 500 futures.
- Gold rose to its highest since Jan. 30 as President Donald Trump outlined new 15% global tariffs and U.S.-Iran tensions boosted demand for haven investments.
- SOL and SUI fell 7%-8% in thin liquidity, contributing to $270 million in altcoin liquidations, though several tokens pared losses during European hours.
