Net outflow of stablecoins from Binance reached $3 billion in a day More than $7 billion worth of stablecoins were withdrawn from the largest crypto exchange Binance in 24 hours. The influx of “stable coins” during the same time amounted to about $4 billion.
USDT, BUSD and USDC are in the highest demand.
The head of the exchange, Changpeng Zhao, stressed that against the backdrop of the May collapse of Terra, the volume of outgoing funds was even greater, and now “deposits are returning.”
“The withdrawal of funds from the exchange is increasing due to the growing uncertainty around its reserves report,” Nansen researchers shared their opinion in a conversation with Reuters.
