Data from Glassnode analyzed by CryptoSlate exhibits that USDC leaving Binance is at yearly highs, in response to the Exchange Net Position Change chart beneath.

Further evaluation reveals that over $1 billion per day left Binance’s USDC scorching wallets this week.

Since August 2021, USDC inflows/outflows to/from Binance have been alternating. The earlier three cases of outflows have been rising extra important in magnitude.

USDC Net Change Position
Source: Glassnode.com

Net inflows seek advice from an quantity of stablecoin deposited into the change pockets. By distinction, web outflows seek advice from an quantity of stablecoin withdrawn from the change pockets.

Analysis of all stablecoins on all exchanges confirmed a pointy drop off in stablecoin balances going into September – lending help to the concept that this is an industry-wide development.

Stablecoins leaving exchanges
Source: Glassnode.com

The publish Binance USDC withdrawals top $1 billion per day this week appeared first on CryptoSlate.



Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here

two × four =