A whale wallet withdrew 8,474 BNB from Binance, worth about $5.9 million, and deposited the tokens into Venus, according to on-chain tracker Lookonchain. After moving the BNB to Venus, the wallet borrowed $2.6 million in USDT. The borrowed funds were then sent back to Binance to buy more BNB. The sequence shows a leveraged accumulation move built around BNB collateral and a stablecoin loan. The transaction flow cited in the report involves three steps: a withdrawal from Binance, a deposit into Venus, and a USDT transfer back to Binance for additional BNB purchases. No further identity details about the wallet were disclosed in the source update.
ChainCatcher reported, citing Lookonchain monitoring, that a whale withdrew 8,474 BNB from Binance, worth about $5.9 million, and deposited the tokens into Venus.
The wallet then borrowed $2.6 million in USDT from Venus and sent the funds back to Binance to buy more BNB.
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