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Ceffu gains $3.66 million from Bitcoin transactions

Ceffu gains $3.66 million from Bitcoin transactions

GrafaGrafa2024/10/15 02:05
By:Mahathir Bayena

Ceffu, the custody branch of Binance, has successfully executed Bitcoin (CRYPTO:BTC) transactions, earning approximately $3.66 million in profit. 

On October 10 and 11, the platform transferred 1,133 BTC to Binance, benefiting from Bitcoin's price rise during that period. 

According to data from Lookonchain, Ceffu purchased a total of 1,988 BTC, amounting to roughly $120.88 million when Bitcoin’s price was $60,815. 

This move indicates a strategic accumulation of Bitcoin at lower prices. 

The subsequent price increase, with Bitcoin reaching $64,047 per unit, allowed Ceffu to capitalize on its holdings. 

Ceffu transferred 1,133 BTC (valued at $72.57 million) to Binance as part of its recent trading activity. 

The successful transaction strategy, which focused on buying low and selling as the price rose, contributed to the significant profit. 

The company's ability to accumulate Bitcoin during market dips and take advantage of price surges highlights its efficient approach to trading. 

These recent moves have enhanced both Ceffu’s and Binance’s market presence, demonstrating their ability to maneuver effectively during Bitcoin price fluctuations. 

Ceffu’s actions have drawn attention from market participants, especially given the volatility of Bitcoin prices. 

The platform’s straightforward strategy of accumulating and selling at optimal times has proven to be profitable, with its recent transactions serving as a testament to this approach. 

At the time of writing, the Bitcoin price was $65,937.78.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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