Binance Sees $1. 2B Outflows As Ethereum Withdrawals Hit 3-Year Peak
You are here:Home/Cryptocurrency News/Binance Sees $1. 2B Outflows as Ethereum Withdrawals Hit 3-Year PeakBinance outflows jumped last week as Ethereum withdrawals on the exchange reached a three-year high. . . .
You are here:Home/Cryptocurrency News/Binance Sees $1. 2B Outflows as Ethereum Withdrawals Hit 3-Year PeakBinance outflows jumped last week as Ethereum withdrawals on the exchange reached a three-year high. The move came as traders tracked liquidity shifts across major crypto trading platforms. On Sunday, DefiLlamadatashows Binance outflows reached $1. 23 billion in net outflows during the week beginning June 29. That marked a 207% increase from about $400 million one week earlier. Outflows from Binance on a monthly basis amounted to nearly $3. 2 billion. The surge meant that Binance outflows were dominating the market amid growing Ethereum activity. Also Read:Ethereum Quantum Computers Plan Targets Post-Quantum Security Through 2029Ethereum Withdrawals on Binance Hit Three-Year HighOn Friday, CryptoQuant analyst Darkfostreportedthat more than 166,000 Ethereum withdrawal transactions took place on Binance in one day. This number was the highest for the exchange in almost three years. The surge marked the strongest withdrawal transactions on Binance since March 2023. This happened even as Ether grew by almost 10% in two days, per CryptoQuant. This development could be indicative of real demand around $1,500,saidDarkfost. According to the analyst, some investors had taken exposure and withdrawn money from the exchange. That pattern is often linked to longer-term accumulation instead of short-term trading, Darkfost said. The analyst mentioned MiCA-related regulations and short-term positioning as possible factors. Binance outflows rose amid a broader recovery in the price of ETH. As per the CoinMarketCapdata, the ETH price increased by 13. 3% over the last seven days and is trading at $1,777 at the time of reporting. Binance Outflows Lead Mixed Exchange Flows as Bitcoin RisesBitcoin also moved higher during the same period. The BTC priceincreasedby 5. 2% in seven days and trades at $62,925. Other centralized exchanges saw outflows. DefiLlama datashowsthat Bitfinex had seen weekly outflows of $378. 5 million, whereas Gate has weekly outflows of $202. 8 million. OKX has also recorded outflows of $40. 1 million. Bybit also had outflows of $87. 2 million in a week. However, some exchanges experienced inflows. Crypto. com has the largest inflows with an amount of $55 million, whereas HashKey Exchange saw inflows of $52 million. KuCoin recorded $27. 8 million in net inflows. Gemini has added $17. 2 million, and Bitvavo had inflows of $15 million. The mixed exchange data showed uneven liquidity movement across trading platforms. Binance saw the largest weekly outflows among all exchanges tracked through DefiLlama data. Also Read:ETH Price Forecast Signals Rally Toward $2,160 After Recovery PatternAboutArslan TabishArslan Tabish is a Technical Reporter and Market Analyst at Tron Weekly with over five years of experience covering cryptocurrency markets and blockchain developments. His reporting focuses on Bitcoin, Ethereum, altcoins, and decentralized finance, alongside NFTs, crypto regulation, policy, and Web3 innovations. Arslan covers blockchain technology, Layer 2 scaling solutions, and emerging use cases, including AI-driven crypto applications, while delivering clear market analysis on how technical and regulatory developments impact digital asset markets. His work is designed for both beginners and experienced readers, offering accurate, easy-to-understand reporting without speculation or investment guidance. 🔗 Connect on LinkedIn