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Bitcoin ETFs bring in over $6 billion in November after another $1 billion day Solana hits new $264 all-time high as DEX volume reaches $100 billion monthly milestone US Bitcoin ETFs surpass $100 billion, pose challenge to largest Bitcoin holders Bitcoin surges to $97k as market leverage hits historic $63 billion Memecoin revival drives Solana DEX Raydium past Tether in fees
Binance experiences minor Bitcoin outflows despite SEC lawsuit fears Binance experiences minor Bitcoin outflows despite SEC lawsuit fears James Van Straten · 1 year ago
Insights BitcoinETFs

Binance experiences minor Bitcoin outflows despite SEC lawsuit fears

Bitcoin outflows remain strong on Binance, however relatively small compared to previous events

James Van Straten / @jvs_btc / Jun. 7, 2023 at 6:23 pm UTC

Quick Take

  • Bitcoin outflows on June 7 from Binance seem rather small compared to previous capitulations.
  •  Roughly 12,000 Bitcoin have left Binance on June 7.
  • In the past year, especially during the FTX collapse, Binance saw 40,000 Bitcoin level the exchange in one day.
  • It suggests investors are not fazed by the SEC lawsuit on the potential of freezing of assets. 
  • However, the main talking point of today is the price action of BNB, which is down 8% on June 7.
Netflow: (Source: Glassnode)
Netflow: (Source: Glassnode)
BNBUSD:(Source: TV)
BNBUSD:(Source: TV)
Analyst

James Van Straten

Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.

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