Binance Sends 1,046 BTC (~$118.22M) to Newly Created Bitcoin Wallet, OnchainLens Reports

OnchainLens monitoring reported on August 22 that a newly created wallet received 1,046 BTC from Binance approximately 20 minutes prior, representing an estimated $118.22 million at prevailing market prices. The receiving address is bc1qcn6y873qtmjquh5x6zl0r2lcqgufpn9d9nae0q, with the transfer logged on-chain and visible via public ledgers.

Market participants and institutional desks commonly flag such transfers for their potential impact on exchange liquidity and custody flows; this movement is a clear datapoint for ongoing on-chain analytics

For verification and further due diligence, analysts should consult the transaction details on a reputable block explorer and cross-reference the alert with OnchainLens feeds and exchange statements to maintain transparency and accuracy in reporting.