The cryptocurrency market is talking about the recent movements of a giant whale.

According to Onchain data, a huge cryptocurrency whale known as capybara_bnb withdrew 397,612 BNB from the staking protocol on BNB Chain and then added 602,200 BNB worth $338 million in total to the Binance deposit address by adding other BNB assets in the cryptocurrency wallet.

After the transfer, only 57.6 BNB remained in the famous wallet of the giant cryptocurrency whale in question.

It is not known whether the transfer in question was made for the purpose of a sale or whether the whale was interestingly preparing for a Binance Launchpool event that may take place soon. If a Binance Launchpool event is announced soon, suspicions may also arise that this whale has inside information. However, early entry to Binance Launchpool events does not provide any advantage to users. Therefore, it is highly likely that the whale made this transfer for other possibilities, including the possibility of sales.

However, when the BNB price chart is examined, the 7% rise in the last 24 hours is higher than the overall cryptocurrency market, which may indicate that even if there is a sell-off, it has been absorbed by the market.

*This is not investment advice.