Binance Records Highest BTC Outflows In its History; What’s the Catch?
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The latest report by on-chain tracker Whalewire shows Binance is experiencing unusual Bitcoin outflows over the past 24 hours, the highest in its history. Whalewire reported that over 162,000 BTC, worth more than $4.5 billion, left the exchange in a day. The tracker believes something fishy is ongoing with Binance, as the crypto exchange has halted withdrawals three times today and has been offline for several hours. According to Whalewire, Bitcoin volume has plunged over 65% over the last 30 days. 162,000 BTC Moved In a Day, WhaleWire Reports Binance, the largest cryptocurrency exchange, has been relatively stable and resilient amid
It was quite the coincidence that the cryptocurrency market jolted back to life after Easter Sunday, with Bitcoin leading the way with more than a double-digit gain. While the price of BTC continues to hold above the critical $94,000 level, the premier cryptocurrency seems to be losing some momentum. Unsurprisingly,…
Whale BTC transfers to Binance align with major price swings and market corrections. Exchange Bitcoin balances have dropped to multi-year lows as prices hit all-time highs. Investors increasingly move Bitcoin off exchanges, reducing supply and boosting price momentum. Large-scale Bitcoin transfers by whales and a sustained reduction in exchange-held balances…