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Binance Customer Withdrawals Exceed $3 Billion In 24 Hours

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TRENDING GLOBALLY

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Binance, the crypto-exchange behemoth, has experienced massive withdrawals over the past week.

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Binance's international division saw more than $8.78 Billion leave its exchange and $5.1 Billion in incoming funds.

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 This meant that the exchange experienced a net outflow of around $3.66 Billion.

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Although such data is limited to Binance’s Ethereum and ERC-20 token movement, 63% of Binance’s portfolio is on Ethereum. 

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The outflows are much higher than other crypto exchanges during the same period.

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Binance's weekly outflow of $3.66 trillion is a lot more than Coinbase's, which saw a net inflow of approximately $574 million from the main exchange and $248 from its Coinbase Custody services.

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In the same period, Binance USA saw a net outflow exceeding $ 38.7 million.

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 Most of these are in Binance’s stablecoin BUSD or Tether, Bitcoin, and Ethereum.

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