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Analysis: About 40,000 BTC Movements

Crypto cryptocurrency BTC BTC Bitcoin

1) About 40,000 BTC moved at 23:56 on 23rd, Nov. Currently, some other on-chain data platforms claim that it is an inner reorganization of Exchange Coinbase.

First, we can see that the address (1C7u4Zqu6ZZRsiKsFMYVDvNLfCwsGrbeTq) transferred coins to the address (1LkkP9jxvUi8wNzfvGaSJP2ZvxxiAfbj1z). It seems like a reorganization behaviour of Coinbase.

2) Next, look at the chart below, we can see that the address (1LkkP9jxvUi8wNzfvGaSJP2ZvxxiAfbj1z) transferred BTC to several addresses. That behaviour makes it difficult for us to analyse the address.

3) But we can use JieData's powerful "Address Analysis" function to find the relationship between the received wallet and other wallets. Even though there are a lot of temporary transactions, we can still find the Binance wallet.

4) As we mentioned before, no one company can make sure their labels are 100% correct. But we can see that the address is a wallet address that was published on Binance's official website. Thus we can say that some coins have flowed into Binance.

5) We can see that those BTC began to move at 23:56 23th, Nov, then they gradually flowed into Binance in batches. From the chart below, we can see its hash transaction is 03:21 24th, Nov 2022, they flowed into Binance wallet.

6) Do you think those addresses belong to Coinbase? You can read our tweets below if you are interested.‚Äč

JieData on Twitter
This post is based on this twitter thread.


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