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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 James Van Straten · 2 years ago
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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

James Van Straten / @jvs_btc / Mar. 9, 2023 at 1:50 pm UTC

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  • Over $200 million worth of Bitcoin was withdrawn from exchanges on March 8.
  • This is in addition to over $150 million of Bitcoin being withdrawn on March 7.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)
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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