The tide has turned. Binance said that as of 11 a.m. today, hourly inflows had overtaken outflows.
When withdrawals first opened, DefiLlama's figures showed net outflows over 24 hours briefly reaching $7 billion—an alarming sight. But they kept shrinking, and by this morning, deposits had overtaken withdrawals.
Several institutions have also made their positions clear: some haven't moved a single cent, while those that reduced their holdings cut them by only a third. Anyone who wanted to get out did so on the first day; those left are the ones who are truly staying.
The bank-run chapter can pretty much be closed.
But BNB hasn't caught up yet. It hit a low of 690.8 this afternoon and is now at $696, still below 700. People have come around to the platform, but they're not rushing to buy its token.
Dashi Xiong's view is that it won't have recovered until it gets back above 700. If it breaks below 690.8 again, stay away for now. #币安每小时充值量已超过提现量 $BNB
When withdrawals first opened, DefiLlama's figures showed net outflows over 24 hours briefly reaching $7 billion—an alarming sight. But they kept shrinking, and by this morning, deposits had overtaken withdrawals.
Several institutions have also made their positions clear: some haven't moved a single cent, while those that reduced their holdings cut them by only a third. Anyone who wanted to get out did so on the first day; those left are the ones who are truly staying.
The bank-run chapter can pretty much be closed.
But BNB hasn't caught up yet. It hit a low of 690.8 this afternoon and is now at $696, still below 700. People have come around to the platform, but they're not rushing to buy its token.
Dashi Xiong's view is that it won't have recovered until it gets back above 700. If it breaks below 690.8 again, stay away for now. #币安每小时充值量已超过提现量 $BNB
