Binance Exodus: Outflows Triple to $1.2B as Ethereum Withdrawals Hit 3-Year High
Binance is witnessing a massive liquidity shift as weekly net outflows surged to $1.23 billion, marking a staggering 207% increase from the previous week. This sudden exodus is primarily fueled by a massive spike in Ethereum withdrawal activity, catching the attention of market analysts worldwide.
Data from CryptoQuant reveals that Ethereum withdrawal transactions on the exchange have hit a multi-year peak, exceeding 166,000 transactions in a single day. This trend highlights a significant movement of assets out of the world's largest exchange, potentially signaling a shift toward self-custody or decentralized finance protocols.
Separately, blockchain analytics platform CryptoQuant reported that Binance’s Ethereum withdrawal transactions hit their highest level in more than three years, with over 166,000 withdrawal transactions occurring in a single day.
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