NEWS π°
Bitcoin (BTC) outflows from largest crypto exchange Binance set multiyear records in late September, new analysis reveals.
Binance net Bitcoin outflows passed 23,000 BTC in the fourth week of September, their highest in over three years.
Whales increased stablecoin inflows to Binance by 40% since mid-August.
Binance Bitcoin reserves fall by nearly 40,000 BTC since Sept. 20
Data from onchain analytics platform CryptoQuant shows that in the seven days through Sept. 27, Binanceβs net outflow reached 23,137 BTC.
On a weekly basis, the total marked Binanceβs largest outflow since June 2023, when its BTC balance dropped by 44,942 in a single week. While last month saw merely half this amount, CryptoQuant sees similar conditions sparking both withdrawal runs.