End of HODL: Co-Founder of Once World's Largest Bitcoin Mining Pool Moves Millions in Crypto to Binance
Analysis
Price Impact
MedA co-founder of a major bitcoin mining pool is moving significant amounts of btc and eth to binance. this signals potential selling pressure or large trades, which can impact prices.
Trustworthiness
HighPrice Direction
BearishMoving large amounts of crypto to an exchange like binance typically indicates an intent to sell or trade, which can lead to downward price pressure, especially for the specific assets being moved (btc and eth).
Time Effect
ShortThe impact is likely to be felt in the short term as these movements could precede actual trades or sales. the market will react quickly to the potential increase in sell-side liquidity.
Original Article:
Article Content:
Cover image via depositphotos.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Chun Wang, co-founder of the once-largest Bitcoin mining pool in the world, F2Pool, has given on-chain trackers something to worry about . After two months of aggressively moving cryptocurrency into private storage, he has started returning assets to Binance en masse. Advertisement In the crypto space, such a maneuver usually means one thing — a major player is preparing to take profits or execute large trades. In May and June, Chun Wang behaved like a classic long-term investor — he emptied his balances on centralized exchanges and moved coins to non-custodial wallets and DeFi protocols such as Spark. Over two months, he stashed away an impressive amount, moving roughly 91,945 ETH, worth about $160 million at the time, and 973 WBTC, worth approximately $61 million, out of sight. HOT Stories Coinbase CEO Rejects 'Pivot to AI' Narrative Zcash (ZEC), XRP, Shiba Inu (SHIB) and Bitcoin (BTC) Price Analysis for July 26: Liquidity Chooses Wrong Direction Chun Wang's transfers with Bitcoin and Ethereum over the past 24 hours, Source: Onchain Lens citing Arkham You Might Also Like Mon, 07/27/2026 - 10:15 163% Ethereum Volume Jump: Three New Whales Scoop 25,425 ETH By Arman Shirinyan Advertisement For the market, this was a strong bullish signal, because when the crypto market's old-timers withdraw coins from exchanges, it suggests that they expect prices to rise and do not plan to sell . However, in July, the strategy reversed 180 degrees. Wang stopped withdrawing funds and began returning them to Binance hot wallets in batches. The push started on July 2 with a transfer of 16,800 ETH and 60 WBTC. The following day, July 3, another 9,800 ETH was sent to the exchange. On July 27, the series continued when Arkham's on-chain data recorded a fresh inflow, including a transaction of 3,345 ETH worth $6.5 million. Advertisement What does this mean for the cryptocurrency market? When figures of Chun Wang's caliber transfer tens of millions of dollars to exchanges, it always creates local pressure on prices. Coins held in personal wallets represent "frozen" supply, while coins held on Binance are assets ready to be sold. It is clear that Wang's reasoning has changed over the past several weeks. Instead of holding assets in DeFi for the long term, he has chosen immediate liquidity on a centralized platform. Whether this results in direct selling into the order book or represents preparation for other maneuvers will become clear from trading volumes over the next few days. #Bitcoin #Bitcoin News