Last night I said the gates had really opened. Today, the numbers are in: withdrawals resumed, $3.64 billion really did leave, Binance didn’t collapse, and neither did $BTC . This morning, it even climbed back to around $78,300. Put simply, the first act of the bank-run drama is over.
$3.64 billion sounds scary, but break it down and there are just two figures: $4.649 billion was withdrawn over nine and a half hours, while $1.01 billion was deposited. Net outflows accounted for only 2.1% of Binance’s $171 billion in assets. The first 15 chains were all fully reopened by 8:30 p.m. last night, and things stabilized after the withdrawal peak. $ETH at around $2,260 and $BNB at around $710 also held steady. The nervous ones ran first; the bold ones are still depositing.
Don’t get too comfortable—the real test is today: the U.S. stock market opens, the midterm elections are tomorrow, and proof of reserves is also due tomorrow. We’ll find out today whether the books add up and whether $BTC can hold $78,000. I’m siding with the bulls: if $78,000 holds, $80,000 is the next stop. Just my personal opinion, not financial advice.
#BinanceHack #BinanceToResumePhaseOneOfWithdrawals
Will $BTC hold above $78,000 today, or retest $76,500 first? Pick a side in the comments.
$3.64 billion sounds scary, but break it down and there are just two figures: $4.649 billion was withdrawn over nine and a half hours, while $1.01 billion was deposited. Net outflows accounted for only 2.1% of Binance’s $171 billion in assets. The first 15 chains were all fully reopened by 8:30 p.m. last night, and things stabilized after the withdrawal peak. $ETH at around $2,260 and $BNB at around $710 also held steady. The nervous ones ran first; the bold ones are still depositing.
Don’t get too comfortable—the real test is today: the U.S. stock market opens, the midterm elections are tomorrow, and proof of reserves is also due tomorrow. We’ll find out today whether the books add up and whether $BTC can hold $78,000. I’m siding with the bulls: if $78,000 holds, $80,000 is the next stop. Just my personal opinion, not financial advice.
#BinanceHack #BinanceToResumePhaseOneOfWithdrawals
Will $BTC hold above $78,000 today, or retest $76,500 first? Pick a side in the comments.
