About 2 billion dollars left Binance within three hours of withdrawals reopening today. 📰
The transfers, in Bitcoin, Ethereum and dollar pegged stablecoins, followed the security breach that forced the exchange to suspend withdrawals. Whale Alert flagged large moves including 10,000 Bitcoin worth about 779 million dollars, nearly 1 billion dollars in Tether, 200 million dollars in USD Coin, and 30,000 Ether worth about 68 million dollars. Source: BeInCrypto report, 1 November, citing Whale Alert. Binance says about 95 percent of the affected assets have been replenished, and the first phase covers 15 networks. 📊 My reading is that a large outflow after a restart is normal, not proof of panic by itself. What matters next is whether outflows slow once the first phase completes.
Do you read a 2 billion dollar outflow as routine withdrawals, or as a warning sign? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #BinanceUpdate
The transfers, in Bitcoin, Ethereum and dollar pegged stablecoins, followed the security breach that forced the exchange to suspend withdrawals. Whale Alert flagged large moves including 10,000 Bitcoin worth about 779 million dollars, nearly 1 billion dollars in Tether, 200 million dollars in USD Coin, and 30,000 Ether worth about 68 million dollars. Source: BeInCrypto report, 1 November, citing Whale Alert. Binance says about 95 percent of the affected assets have been replenished, and the first phase covers 15 networks. 📊 My reading is that a large outflow after a restart is normal, not proof of panic by itself. What matters next is whether outflows slow once the first phase completes.
Do you read a 2 billion dollar outflow as routine withdrawals, or as a warning sign? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #BinanceUpdate
