Yesterday I asked whether Binance outflows would slow once the initial queue cleared — the net figures are now out, and the answer is starting to emerge.
Facts: Reuters (Nov 1) reported that customers withdrew a net $3.64 billion — about 2.1% of the exchange’s assets — by 15:30 GMT on the first day phase 1 withdrawals opened. Binance said withdrawals had stabilized and deposits remained strong. CryptoBriefing reported a similar figure: nearly $3.8 billion in about 10 hours. To clarify: Binance disputed DefiLlama’s gross figure of $4.36 billion because it included deposits into its own new hot wallet — so gross outflows are not the same as customer withdrawals. The context remains: phase 1 covers only 15 networks, and about 95% of the $6.3 billion reportedly stolen has been replaced.
My take: $3.64 billion is real money that went out, but 2.1% of assets is not an exodus — and BTC is still calm at around $77,787 this morning. The real test of confidence isn’t day one (the queue was bound to surge), but whether net outflows keep shrinking over the next few days. The claim that things have “stabilized” came from Binance itself, so I’m waiting for the next evidence, not just a statement.
What I’m watching: the full proof of reserves promised for Nov 3, the list of networks in the next phase, and net-flow data for the coming days.
What do you think: are 2.1% of assets leaving on day one a sign that confidence is cracking, or proof that the exchange passed a liquidity test?
This is my analysis, not financial advice — always DYOR.
#Binance #Penarikan $BTC $ETH
Facts: Reuters (Nov 1) reported that customers withdrew a net $3.64 billion — about 2.1% of the exchange’s assets — by 15:30 GMT on the first day phase 1 withdrawals opened. Binance said withdrawals had stabilized and deposits remained strong. CryptoBriefing reported a similar figure: nearly $3.8 billion in about 10 hours. To clarify: Binance disputed DefiLlama’s gross figure of $4.36 billion because it included deposits into its own new hot wallet — so gross outflows are not the same as customer withdrawals. The context remains: phase 1 covers only 15 networks, and about 95% of the $6.3 billion reportedly stolen has been replaced.
My take: $3.64 billion is real money that went out, but 2.1% of assets is not an exodus — and BTC is still calm at around $77,787 this morning. The real test of confidence isn’t day one (the queue was bound to surge), but whether net outflows keep shrinking over the next few days. The claim that things have “stabilized” came from Binance itself, so I’m waiting for the next evidence, not just a statement.
What I’m watching: the full proof of reserves promised for Nov 3, the list of networks in the next phase, and net-flow data for the coming days.
What do you think: are 2.1% of assets leaving on day one a sign that confidence is cracking, or proof that the exchange passed a liquidity test?
This is my analysis, not financial advice — always DYOR.
#Binance #Penarikan $BTC $ETH