A significant day of on-chain activity unfolded on February 20, 2026, as two major cryptocurrency whales executed large transfers involving Binance, sparking intense market scrutiny.
First, a newly created Ethereum wallet withdrew 7,000 ETH, valued at approximately $13.55 million, from the Binance exchange. The transaction, completed within an hour, increased the anonymous wallet's total holdings to 7,100 ETH, worth roughly $13.74 million. The wallet address, 0xf4aC5a5DC1543086347D28e757091EBd1B848cCa, had no prior activity before this withdrawal. Blockchain monitoring service Onchain Lens reported the event, noting that such large outflows from centralized exchanges are often interpreted as potential accumulation or a move to self-custody, which can reduce the immediate trading supply of ETH on exchanges.
Simultaneously, a separate and far larger transaction involved Bitcoin. Blockchain tracker Whale Alert reported a transfer of 5,000 BTC, worth an estimated $336 million, from an unknown private wallet to a Binance deposit address. This movement of assets from cold storage to a major exchange is a classic signal analysts watch closely, as it often precedes selling activity, though alternative motives like over-the-counter (OTC) trading, collateralization for derivatives, or participation in exchange products are also possible.
Market analysts emphasize the need to contextualize these moves. The Ethereum withdrawal could indicate a long-term holding strategy, staking intent, or a simple custody change. Conversely, the massive Bitcoin deposit increases sell-side liquidity on Binance and is historically associated with potential selling pressure, though the whale's exact intent remains unknown. Experts note that sophisticated entities typically use limit orders or OTC desks to execute large trades to minimize market impact.
Both events underscore the transparent yet pseudonymous nature of blockchain networks, where large transactions are publicly visible but the actors' identities are often concealed. The market is now closely monitoring the destination Ethereum wallet for further movements and Binance's order books for any execution of the deposited Bitcoin.
