Binance flows just flipped
Per Binance's own update, by 03:00 UTC today (8:30am IST) hourly deposits were running above withdrawals, five days after the Oct 29 hack.
Same morning, Whale Alert flagged 7,499 $BTC (about $575M) moving from an unknown wallet into Binance.
My take: deposits beating withdrawals is the trust signal people were waiting for. But a big BTC deposit to an exchange can also mean someone is getting ready to sell, and $BNB is still around $692, close to the $680 hack-day low. I'd want the new Proof of Reserves and a few more days of net inflows before calling this over.
#Binance #BinanceHack #CryptoNews
NFA
Per Binance's own update, by 03:00 UTC today (8:30am IST) hourly deposits were running above withdrawals, five days after the Oct 29 hack.
Same morning, Whale Alert flagged 7,499 $BTC (about $575M) moving from an unknown wallet into Binance.
My take: deposits beating withdrawals is the trust signal people were waiting for. But a big BTC deposit to an exchange can also mean someone is getting ready to sell, and $BNB is still around $692, close to the $680 hack-day low. I'd want the new Proof of Reserves and a few more days of net inflows before calling this over.
#Binance #BinanceHack #CryptoNews
NFA
