"Bitcoin exchange outflows are a key indicator of market sentiment. Recent analysis reveals a surprising trend: offshore exchanges are seeing significantly higher outflows than their U.S.-based counterparts, despite the latter facing more regulatory scrutiny. But what's driving this trend? Is it the regulatory pressures and high-profile lawsuit faced by Binance, the leading offshore exchange? Or could it suggest a shift in investor sentiment, with U.S. exchanges perceived as more stable... Dive into this fascinating investigation and find out more with Alpha..."
U.S. exchanges are seeing fewer outflows than offshore competitors U.S. exchanges are seeing fewer outflows than offshore competitors
Despite the ongoing regulatory pressure on U.S. exchanges, their offshore competitors saw much higher Bitcoin outflows in the past month.
2 min read
Updated: Aug. 17, 2023 at 4:02 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Binance
Binance is a global cryptocurrency exchange that provides a platform for trading more than 100 cryptocurrencies.
HTX
Huobi, a virtual asset exchange, launched a revised branding strategy on September 13, 2023, where “Huobi” will be rebranded as “HTX.” “H” stands for Huobi, “T” represents TRON with a commitment to being all in TRON, and “X” stands for the exchange.
OKX
OKX is a world-leading digital asset exchange, providing advanced financial services to global traders by using blockchain technology.
Coinbase
Coinbase is a digital currency exchange and wallet service that allows individuals to buy, sell, and store digital currencies, such as Bitcoin, Ethereum, and Litecoin.
Kraken
Kraken is a San Francisco-based digital asset exchange in euro volume and liquidity that trades various currencies, including Canadian dollars, US dollars, British pounds, and Japanese yen.
Gemini
Gemini is a regulated digital asset exchange and custodian that allows customers to buy, sell, store, and stake digital assets in a regulated, secure, and compliant manner.
