Global blockchain supervision and query platform

English
Download

CryptoQuant: Binance's BTC Reserves Drop by 5,000, Coinbase Sees a Surge of 12,000 BTC.

CryptoQuant: Binance's BTC Reserves Drop by 5,000, Coinbase Sees a Surge of 12,000 BTC. WikiBit 2023-11-24 12:04

CryptoQuant: Binance Witnesses a Decrease of 5,000 BTC in Reserves, While Coinbase Records an Increase of 12,000 BTC in Reserves

According to on-chain data tracked by CryptoQuant, Bitcoin is flowing from Binance to Coinbase. In the last 24 hours, Coinbase's reserves have increased by around 12,000 BTC, while Binance's reserves have decreased by 5,000 BTC.

Web 3 analyst Bradley Park from CryptoQuant reported to CoinDesk that the decrease in Bitcoin reserves on Binance seems to be a result of outflows from retail funds.

Greta Yuan, Head of Research at digital asset platform VDX, stated that the market is still nervous about the recent legal implications for Binance. In the short term, it is expected that more users will move funds to compliant or licensed exchanges.

Crypto service provider Matrixport mentioned, “With this plea agreement, expectations for a spot Bitcoin ETF might increase to 100%, as the entire industry will be forced to comply with the rules that traditional financial companies must adhere to.”

Disclaimer:

The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.

  • Token conversion
  • Exchange rate conversion
  • Calculation for foreign exchange purchasing
/
PC(S)
Current Rate
Available

0.00