Binance processed a 3.64 billion dollar net outflow on reopening day, and that number needs context. đ°
Between 06:00 and 15:30 UTC on 1 November, withdrawals were 4.649 billion dollars against 1.01 billion dollars in deposits, a net outflow of about 3.64 billion dollars, and all 15 first phase networks were back online by 12:36 UTC. Source: SpendNode, 1 November, citing a Binance status post. đ My reading is that the size looks large until you compare it with reserves. At about 2.1 percent of the 171 billion dollars Binance reports in total assets, this was an orderly exit window, not a run.
Is a 2.1 percent outflow a sign of trust returning, or just the first wave still to come? đ€
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #BinanceUpdate
Between 06:00 and 15:30 UTC on 1 November, withdrawals were 4.649 billion dollars against 1.01 billion dollars in deposits, a net outflow of about 3.64 billion dollars, and all 15 first phase networks were back online by 12:36 UTC. Source: SpendNode, 1 November, citing a Binance status post. đ My reading is that the size looks large until you compare it with reserves. At about 2.1 percent of the 171 billion dollars Binance reports in total assets, this was an orderly exit window, not a run.
Is a 2.1 percent outflow a sign of trust returning, or just the first wave still to come? đ€
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #BinanceUpdate
