🚨 Binance Processes $4.65 Billion in Withdrawals as Services Return to Normal
Binance has reported significant withdrawal activity following the reopening of its withdrawal services on November 1, 2026.
According to the exchange, users withdrew approximately $4.649 billion, while deposits reached around $1.01 billion during the first 9.5 hours.
This resulted in a net outflow of approximately $3.64 billion, representing just 2.1% of Binance's reported $171 billion in total assets.
📊 Key Developments:
🔹 Withdrawals Resume: Binance restored withdrawals in phases, bringing all 15 networks and assets included in the first phase back online within approximately seven hours.
🔹 Major Assets Supported: BTC, ETH, USDT, USDC, BNB, SOL, and XRP were among the supported assets.
🔹 Withdrawal Activity Stabilises: After an initial surge, withdrawal volumes reportedly declined and began stabilising.
🔹 Deposits Remain Strong: Approximately $1.01 billion in deposits were recorded during the same reporting period.
🔹 Updated Proof of Reserves: Binance is preparing an updated Proof of Reserves report, expected on November 2, to provide users with a fresh overview of its reserves.
📈 Market Perspective: What Does This Mean?
The initial withdrawal surge highlights how quickly users responded when access to their funds was restored.
However, the reported net outflow represents around 2.1% of Binance's stated total assets, and the exchange says withdrawal activity is now stabilising.
The next important indicators will be the updated Proof of Reserves report, continued deposit activity, and the completion of the remaining withdrawal network restorations.
💬 What do you think?
Does Binance's recovery signal improving user confidence, or will traders continue moving funds to external wallets?
Share your thoughts below! 👇
$BTC $BNB $ETH
#Binance #CryptoNews #Bitcoin #BNB #Ethereum #CryptoMarket #ProofOfReserves #USDT #Blockchain
Binance has reported significant withdrawal activity following the reopening of its withdrawal services on November 1, 2026.
According to the exchange, users withdrew approximately $4.649 billion, while deposits reached around $1.01 billion during the first 9.5 hours.
This resulted in a net outflow of approximately $3.64 billion, representing just 2.1% of Binance's reported $171 billion in total assets.
📊 Key Developments:
🔹 Withdrawals Resume: Binance restored withdrawals in phases, bringing all 15 networks and assets included in the first phase back online within approximately seven hours.
🔹 Major Assets Supported: BTC, ETH, USDT, USDC, BNB, SOL, and XRP were among the supported assets.
🔹 Withdrawal Activity Stabilises: After an initial surge, withdrawal volumes reportedly declined and began stabilising.
🔹 Deposits Remain Strong: Approximately $1.01 billion in deposits were recorded during the same reporting period.
🔹 Updated Proof of Reserves: Binance is preparing an updated Proof of Reserves report, expected on November 2, to provide users with a fresh overview of its reserves.
📈 Market Perspective: What Does This Mean?
The initial withdrawal surge highlights how quickly users responded when access to their funds was restored.
However, the reported net outflow represents around 2.1% of Binance's stated total assets, and the exchange says withdrawal activity is now stabilising.
The next important indicators will be the updated Proof of Reserves report, continued deposit activity, and the completion of the remaining withdrawal network restorations.
💬 What do you think?
Does Binance's recovery signal improving user confidence, or will traders continue moving funds to external wallets?
Share your thoughts below! 👇
$BTC $BNB $ETH
#Binance #CryptoNews #Bitcoin #BNB #Ethereum #CryptoMarket #ProofOfReserves #USDT #Blockchain
