2023-06-12 11:10:23
Binance CEO CZ responds as data points to billions in exchange outflows
Leading analytics platforms such as Nansen and DefiLlama have all measured increased exchange outflows from Binance over the past seven days.
According to Nansen, there has been a net outflow of
$2.36 billion from Binance over the past seven days, along with
$123.7 million flowing out of Binance. US.
DefiLlama reported an even larger figure of
$3.35 billion in outflows from Binance, while Glassnode data shows the exchange’s BTC balance having declined by 5.7% or around $1 billion over the past seven days.
CZ argued that some exchange outflow data can be skewed as some third-party analytics measure change in assets under management as “outflow,” which would include times when crypto prices decline.
"Some even only measure outflow, not inflows. On a sharp price movement day like today, many arbitrage traders move a lot of funds between exchanges, usually exponentially more than on normal days.”
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