Analysis News TheBitTimes.com

Following the $4.3 billion fine by the U.S. Department of Justice (DoJ), Binance’s outflow has surpassed the $1 billion mark over the past week. According to data provided by DeFi Llama, Binance witnessed a negative net outflow of $1.2 billion in the past seven days. This comes while the largest crypto exchange saw a $462 million outflow in the past 24 hours alone, per the data aggregator.  CEX data – Nov. 23 | Source: DeFi Llama Nansen reported on Nov. 22 that Binance’s outflow s continue while a mass exodus of funds has not yet occurred. You might also like: SEC Commissioner on spot Bitcoin ETFs: “No reason to block” Per DeFi Llama, only Bitstamp saw a higher outflow of funds in the past 24 hours than Binance — reaching a negative net flow of $498.59 million. Huobi comes third, after Binance, with a total outflow of almost $79 million over the past day.  Moreover, the total amount of Binance’s clean assets — funds excluding the exchange’s own to...

The outflow of assets from the crypto exchanges is considered a bullish sign as it indicates traders are moving their assets away from exchanges in anticipation of a price surge. Major crypto exchanges recorded a net outflow on Oct. 24 as Bitcoin price briefly touched the $35,000 mark for the first time in a year. The movement of funds away from exchanges is considered a bullish sign as traders move their asset s away from the centralized platforms in anticipation of a price surge . According to data shared by crypto analytic firm Coinglass, Binance saw the biggest outflow with over $500 million moving off the exchange over the past 24 hours followed by crypto.com with $49.4 million in outflow followed by OKX with $31 million in outflow. Most other exchanges recorded below $20 million outflow. Outflow from crypto platforms in recent times has led to “bank run” fears after the FTX collapse in November, however, the most recent outflow is more in line with trader sentiment than f...