Total Flows on Exchanges Shows 370% Rise as Market’s Volatility Topping
With the spike in volatility on the cryptocurrency market, exchanges have faced a massive spike in inflows as traders were actively shorting, withdrawing and hedging on the market, according to IntoTheBlock.
The massive spike in exchange outflows could have been one reason for a series of withdrawal limitations on the biggest centralized exchangers in the industry, including Binance. While the exchange's representatives stated that it was nothing but a technical issue, users started to move their funds away from exchanges in panic. During periods of high upward volatility, exchanges usually see higher inflows as users are looking for ways to gain exposure to rallying assets.
Source
@CryptoWorldAnalysis
