The price of SATS has skyrocketed after Binance announced its listing on the platform. As a result, a whale has moved 65 trillion SATS to the exchange, most likely for profit-taking.
According to on-chain data, wallet address 13xjLB recently transferred 65 trillion SATS, which is approximately $36 million, to Binance. Notably, these SATS were accumulated from 8 addresses controlled by the same individual, as these addresses have previously exhibited similar buying patterns.
Furthermore, this whale previously owned 1 million ORDI tokens and sold them on Gate.io on May 12, earning at least $5 million in profit. Subsequently, the wallet continued to accumulate a significant amount of SATS in July.
Currently, the whale has not taken any further actions after transferring the funds to the exchange. However, based on their trading history, it is highly likely that this is a profit-taking move.
Notably, due to the whale’s transactions, Binance has become the largest holder of SATS, representing 19.17% of the BRC-20 token market share (approximately $200 million). Gate.io follows as the second-largest holder, while subsequent rankings are dominated by individual wallets, most of which began buying from August onwards.
Regarding SATS, it is a meme coin based on the BRC-20 standard within the Bitcoin ecosystem. On December 12, Binance announced the listing of both spot and futures trading pairs for the 1000SATS token. This announcement led to a nearly 300% surge in the token’s price. At the time of writing, SATS is trading around $0.00000058 USD.