Binance Withdrawals Slow After Record Customer Outflows
- Net flows remain negative, meaning more money left Binance
- Investor confidence has been shook since FTX collapse
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Customer outflows from Binance’s cryptocurrency trading platform are slowing, according to blockchain data from two digital-asset analytics firms.
The net outflow, the difference between the value of crypto coming into and leaving the exchange, was around $239 million in the past 24 hours, according to Nansen. The data excludes Bitcoin, which Nansen doesn’t track yet. That’s down from the daily average of $272 million over the past week. Binance has at least $60 billion in on-chain reserves, Nansen estimates.