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Binance sees largest Bitcoin inflow since SEC lawsuit

A large whale deposited the most amount of Bitcoin on the exchange since June 1

James Van Straten
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James Van Straten
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Quick Take

  • Binance saw its largest inflow into the exchange yesterday since the SEC lawsuit, driven by a large whale, almost 3,500 Bitcoin ($66 million).
  • This event raises questions as to why a large whale would deposit such a significant amount of Bitcoin while the exchange is currently facing a lawsuit with the SEC.
  • Since the lawsuit began, nearly 40,000 Bitcoin have left Binance. However, this is a relatively small amount considering the exchange currently holds approximately 663,000 Bitcoin (roughly $17.35 billion.)
Netflow: (Source: Glassnode)
Netflow: (Source: Glassnode)
Binance exchange: (Source: Glassnode)
Binance exchange: (Source: Glassnode)
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James Van Straten
James Van Straten
Former Lead Analyst 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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