Bitcoin

Binance sees largest Bitcoin inflow since SEC lawsuit

06/13/2023
Bitcoin Ethereum News

Quick Take

  • Binance saw its largest inflow into the exchange yesterday since the SEC lawsuit, driven by a large whale, almost 3,500 Bitcoin ($66 million).
  • This event raises questions as to why a large whale would deposit such a significant amount of Bitcoin while the exchange is currently facing a lawsuit with the SEC.
  • Since the lawsuit began, nearly 40,000 Bitcoin have left Binance. However, this is a relatively small amount considering the exchange currently holds approximately 663,000 Bitcoin (roughly $17.35 billion.)
Netflow: (Source: Glassnode)
Netflow: (Source: Glassnode)
Binance exchange: (Source: Glassnode)
Binance exchange: (Source: Glassnode)

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Source: https://cryptoslate.com/insights/binance-sees-largest-bitcoin-inflow-since-sec-lawsuit/