A large and important BNB transaction recently became a hot topic in the crypto world. Leading data analysis platform The Data Nerdreported about three hours ago that a whale wallet starting with 0x1E7… borrowed 62,000 BNB (approximately $34.31 million) from the Venus protocol and then deposited all of the BNB to the cryptocurrency exchange Binance
Whale Looks Like He’s Planning to Join Launchpool Projects
This is not the first time that a large transaction of 62 thousand BNB has caused volatility in the market. Binance‘s BNB is widely used in similar ways in the cryptocurrency market.
This large-scale borrowing from the Venus protocol shows the whale’s confidence in the future development of BNB. BNBThe fact that all of the was deposited into Binance suggests that the whale is focused on generating more income through Launchpool projects.
Launchpool is a pledge service provided by Binance that allows users to deposit coins like BNB to receive token rewards for new projects. This approach not only provides users with income opportunities, but also funds and exposure to new projects. On the other hand, with this large deposit detected, it seems that the whale aims to obtain early investment opportunities for new projects through Launchpool, thus achieving a higher return on investment.
$276.29 Million Worth of BNB Flowed to Binance in 24 Hours
Additionally, data from The Data Nerd shows that a total of 511,600 BNB worth approximately $276.29 million were deposited into Binance in the last 24 hours, indicating a strong interest in Binance’s Launchpool projects.
On the other hand, the data reflects that extremely high liquidity was achieved in BNB in a short period of time and reveals that the market continues to trust the Binace ecosystem. Especially in large-scale money inflows made to participate in Launchpools, the intention is not to sell BNB. 
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Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
