On October 14, COINOTAG highlighted significant activity within the cryptocurrency custody sector, specifically involving the Binance custody platform, Ceffu. Monitoring from Lookonchain revealed that Ceffu acquired a total of 1,988 bitcoins, valued at approximately $120.88 million, on October 10 and 11, at an average price of $60,815 per bitcoin. This substantial purchasing maneuver reflects Ceffu’s bullish strategy in a volatile market.
More recently, Ceffu made waves again by depositing 1,133 bitcoins into Binance, translating to around $72.57 million, at a higher market price of $64,047. This action suggests an effective profit realization of nearly $3.66 million, underscoring the ongoing optimism in institutional bitcoin accumulation. Such transactions not only influence market dynamics but also indicate the growing institutional adoption of cryptocurrency assets.