Recurring Whale Spots; Binance Receives $10.88M BNB Deposition

• A whale transaction of 44K Binance Coin is captured.
• BNB is bullish by a 4.31% change in price over the last 24 hrs.

Following the recent found of the SHIB’s largest whale, another whale transaction activity is reported today. A suspicious whale borrowed Binance Coin (BNB) from Venus, a decentralized finance (DeFi) lending protocol.

A whale borrowed 44,000 $BNB ($10.88M) from #Venus and deposited to #Binance 4 hrs ago due to the announcement of Maverick Protocol ( $MAV) on #Binance Launchpool.https://t.co/5geBegERJW pic.twitter.com/IBilyheSHG

— Lookonchain (@lookonchain) June 14, 2023

Meanwhile, the same whale dropped the borrowed BNB to Binance once after the Maverick Protocol announcement launched. After the Maverick Protocol (MAV) launched on the Binance launchpool, this whale deposition occurred.

Consequently, the whale has made two depositions on Binance one after the other. As per Lookonchain reports, 44K Binance Coin worth $10.88 million has been borrowed from Venus with negligible gas fees.

Meanwhile, the first deposit to Binance accounts for 31.5K BNB with a value of $7,739,550 at $0.02 gas fees. Again, another deposit to Binance accounted for 12.5K BNB worth $3,071,250 with the same gas fees as the previous deposition.

Price Analysis of Binance Coin

According to CoinMarketCap, the Binance Coin (BNB) remains in green over the last 24 hrs’ price graph with a 4.31% increase. Yet, the trading volume is slightly fallen by 17.14% whereas the market capitalization increased by 4.29% at the time of analysis. The current market price of BNB is $246.77 compared to the previous day.

Moreover, the current circulating supply of the Binance Coin is more than 155 million. Considering the monthly price chart, BNB has dropped around 21.13% comparatively. The market capitalization accounts for $38B whereas the trading volume reports $687M.

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