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Back to back withdrawals from Bitcoin whales, first Bithumb and now Binance Back to back withdrawals from Bitcoin whales, first Bithumb and now Binance

Back to back withdrawals from Bitcoin whales, first Bithumb and now Binance

In the past two days, Bitcoin withdrawals have totalled up to $350 million, driven by whales

Definition

Breakdown of the net flow of coins into/out of exchanges by the USD value of the transactions.

Quick Take

  • Over $200 million worth of Bitcoin was withdrawn from exchanges on March 8.
  • This is in addition to over $150 million of Bitcoin being withdrawn on March 7.
  • Both withdrawals were led by whales (denoted by the red).
  • Two days ago, the whale withdrew from Bithumb, while yesterday, the withdrawals came from Binance.
Exchange Netflow Binance: (Source: Glassnode)
Exchange Netflow Binance: (Source: Glassnode)

 

Exchange Netflow Bithumb: (Source: Glassnode)
Exchange Netflow Bithumb: (Source: Glassnode)