Bitcoin Wholecoiner inflows to Binance have collapsed to 2018 levels, with yearly averages reaching just 6,500 BTC as large holders holding one Bitcoin or more refuse to send coins to exchanges despite price volatility. The trend contrasts sharply with previous bull markets and signals a fundamental shift in holder behavior, with over 6,400 BTC moving into long-term accumulation wallets instead of trading platforms.
Key Insights
- According to updates from CryptoQuant, Binance is seeing the lowest Bitcoin wholecoiner inflows since 2018.
- This data means that large Bitcoin holders are now keeping their coins off exchanges for longer.
- Accumulation wallets continue to grow despite short-term price swings.
Bitcoin flows tell stories that price charts often miss. This has been the case lately, because recent data from Binance now shows a clear change in behaviour among large holders.
According to recent updates from CryptoQuant, transactions from wallets holding one Bitcoin or more have slowed to levels last seen in 2018.
This matters because these holders once drove selling during strong rallies. Their holding back from Binance shows lower selling activity and indicates that the market now works differently than it did in past cycles.
Binance Wholecoiner Inflows Reach Multi Year Lows
Binance continues to be the largest centralized exchange by trading volume. For years it acted as the main destination for Bitcoin wholecoiners looking to sell. That pattern now appears to have changed.
For some context, wholecoiner inflows refer to transactions larger than 1 BTC sent to exchanges. When inflows like these occur, it shows a general plan from investors to sell or rebalance holdings.
Thus, current CryptoQuant data shows that Binance now receives far fewer of these transactions.
CryptoQuant noted that the yearly average of wholecoiner inflows to Binance sits near 6,500 BTC. This figure matches levels last recorded in 2018, and weekly averages also remain low at roughly 5,200 BTC.
This trend is also important because it contrasts directly with earlier bull markets, where large holders sent more coins to exchanges as prices climbed.
Why Large Bitcoin Wholecoiner Are Not Selling on Binance
Why are investors going through a slowdown in wholecoiner activity?
For starters, Bitcoin now trades at much higher prices than past cycles. This means that buying or holding a full coin requires far more capital. This alone reduces the number of wallets able to send transactions above 1 BTC.
As a result, fewer wholecoiners exist today compared to earlier years.
Data shows that wholecoiner addresses dropped from over 1 million to around 974,000 during the past two years. Distribution happened slowly rather than through sell-offs, and many early holders already took profits during previous peaks.
Long-term belief is also another factor. Many wholecoiners held through earlier bear markets, and the recent dips below $90,000 did not trigger panic selling.
This all means that Bitcoin holders appear comfortable riding out short-term swings.
Fewer Coins Sent to Binance Does Not Mean Lower Activity
Lower wholecoiner inflows do not mean Bitcoin trading stopped. It could mean that the activity simply moved elsewhere.
Spot trading continues to be active on Binance, where retail users still trade smaller amounts, and miners also increased deposits during certain periods.
Decentralized exchanges and prediction markets also now attract part of the volume once handled only by centralized platforms.
OTC desks also handle large trades quietly, where institutions and wealthy holders prefer these channels to avoid slippage. Because of this, coins change hands without touching public exchange wallets.
These trends reduce visible exchange inflows while keeping the market liquid.
Accumulation Wallets Continue to Grow
While exchange inflows slow down, accumulation wallets show the opposite trend.
For context, accumulation addresses belong to wallets that rarely sell. These wallets receive coins but do not send them out, and commonly belong to long-term holders.
Recent months saw strong inflows into these addresses. CryptoQuant noted that over 6,400 BTC moved into accumulation wallets around December 10. This figure was higher than similar events earlier in the year.
It also means that more users now favor self-custody, where hardware wallets and secure setups have gained adoption.
Retail Behaviour Contrasts With Bitcoin Wholecoiner Trends
Notably, retail investors are showing a different pattern.
Smaller holders continued sending Bitcoin to Binance during short-term pullbacks. CoinGlass data showed a net inflow of 1,208 BTC to centralized exchanges in one day, and these moves often align with fear-driven selling.
Moreover, in the past 30 days, centralized exchanges recorded a net outflow of more than 50,000 BTC while total exchange balances dropped from 3.44 million BTC to about 2.49 million.
This contrast shows that the market is currently split. Retail traders are chasing short moves, while larger holders stay patient.
Disclaimer: This article is intended solely for informational purposes and should not be construed as financial advice. Investing in cryptocurrencies involves substantial risk, including the possible loss of your capital. Readers are encouraged to perform their own research and seek guidance from a licensed financial advisor before making any investment decisions. Voice of Crypto does not endorse or promote any specific cryptocurrency, investment product, or trading strategy mentioned in this article.
