Crypto Daily Brief | Nov 3
Evening, folks!! Binance finally had some good news today, but there’s also a catch to talk about~
1️⃣ Money is starting to flow back in! Figures posted today by Binance’s official X account: in the 46 hours after withdrawals reopened, about $10.97 billion was withdrawn and about $5.7 billion was deposited, for net outflows of about $5.28 billion. But during the hour up to 3:00 UTC, deposits of $193 million had already topped withdrawals of $183 million (compiled by exchange.news).
My take: At last, we’re seeing signs of money “coming back”!! But those are just one or two hours of data, so don’t rush to declare the run over. Let’s watch it for another couple of days~
2️⃣ The second batch of withdrawals is open: Update No. 6 says withdrawals will gradually resume from 4:00 UTC across nine networks: BSC, ETH, SOL, XRP, Sui, Arbitrum, OP, Tron, and Base. Withdrawals for more than 50 tokens have already resumed on ETH and SOL, including ENA, PENDLE, LINK, JUP, and WIF (crypto.news).
My take: If your altcoins were stuck, you can go check now!! Check the network status before withdrawing. Anyone saying “pay a fee and I’ll speed it up for you” is a scammer!!!
3️⃣ Here’s the catch: CoinDesk noticed that the BTC in Binance’s SAFU user protection fund has dropped from 15,000 BTC to about 7,500 BTC. At $77,000 per BTC, that’s about $580 million—already below its own $800 million replenishment threshold. Binance has promised to top it back up to $1 billion, but hasn’t said when~
My take: This money is there to cover losses from this hack, so it’s no surprise they’re using it. But without a timeline, I’m not totally reassured haha. Keep an eye on when they replenish it!!
4️⃣ Institutions are still pulling out: U.S. spot ETH ETFs saw another net outflow of about $140 million on Nov 2, marking six straight days of outflows. Almost all of it came from BlackRock’s ETHA (SoSoValue/TokenPost).
My take: There’s just no one stepping in to buy ETH right now. Don’t assume it’s holding up just because it’s fallen less than BTC~
5️⃣ Prices: CoinGecko has BTC at about $77,000 and ETH at about $2,269 right now; both are still slightly down over 24 hours. The Fear & Greed Index is at 26—in fear territory~
Overall: U.S. midterm election results start coming in tonight, Binance has its second proof-of-reserves snapshot tomorrow, Nov 4, ZEC upgrades Thursday, and U.S. nonfarm payrolls come out Friday. This week really does have a new bombshell every day! I’m still not chasing prices or using leverage. I’ll gradually buy if it drops to around $76,000~
Have you withdrawn in the second batch yet? Or did you put your money back in as soon as you saw it flowing back?
$BTC $ETH
#加密快报 #Crypto
Evening, folks!! Binance finally had some good news today, but there’s also a catch to talk about~
1️⃣ Money is starting to flow back in! Figures posted today by Binance’s official X account: in the 46 hours after withdrawals reopened, about $10.97 billion was withdrawn and about $5.7 billion was deposited, for net outflows of about $5.28 billion. But during the hour up to 3:00 UTC, deposits of $193 million had already topped withdrawals of $183 million (compiled by exchange.news).
My take: At last, we’re seeing signs of money “coming back”!! But those are just one or two hours of data, so don’t rush to declare the run over. Let’s watch it for another couple of days~
2️⃣ The second batch of withdrawals is open: Update No. 6 says withdrawals will gradually resume from 4:00 UTC across nine networks: BSC, ETH, SOL, XRP, Sui, Arbitrum, OP, Tron, and Base. Withdrawals for more than 50 tokens have already resumed on ETH and SOL, including ENA, PENDLE, LINK, JUP, and WIF (crypto.news).
My take: If your altcoins were stuck, you can go check now!! Check the network status before withdrawing. Anyone saying “pay a fee and I’ll speed it up for you” is a scammer!!!
3️⃣ Here’s the catch: CoinDesk noticed that the BTC in Binance’s SAFU user protection fund has dropped from 15,000 BTC to about 7,500 BTC. At $77,000 per BTC, that’s about $580 million—already below its own $800 million replenishment threshold. Binance has promised to top it back up to $1 billion, but hasn’t said when~
My take: This money is there to cover losses from this hack, so it’s no surprise they’re using it. But without a timeline, I’m not totally reassured haha. Keep an eye on when they replenish it!!
4️⃣ Institutions are still pulling out: U.S. spot ETH ETFs saw another net outflow of about $140 million on Nov 2, marking six straight days of outflows. Almost all of it came from BlackRock’s ETHA (SoSoValue/TokenPost).
My take: There’s just no one stepping in to buy ETH right now. Don’t assume it’s holding up just because it’s fallen less than BTC~
5️⃣ Prices: CoinGecko has BTC at about $77,000 and ETH at about $2,269 right now; both are still slightly down over 24 hours. The Fear & Greed Index is at 26—in fear territory~
Overall: U.S. midterm election results start coming in tonight, Binance has its second proof-of-reserves snapshot tomorrow, Nov 4, ZEC upgrades Thursday, and U.S. nonfarm payrolls come out Friday. This week really does have a new bombshell every day! I’m still not chasing prices or using leverage. I’ll gradually buy if it drops to around $76,000~
Have you withdrawn in the second batch yet? Or did you put your money back in as soon as you saw it flowing back?
$BTC $ETH
#加密快报 #Crypto