Binance FUD: Actual Bitcoin Outflow From Binance Far Lower Than 190K BTC
Reason Behind Large Bitcoin Outflow from Binance In the last two days, the total exchange outflows from the crypto exchanges are 200k. Binance has an exchange outflow of 190k worth nearly $5.5 billion, as per CryptoQuant data. advertisement However, the actual exchange outflow from Binance is far lower as the exchange takes several steps including wallet transfers and enabling Bitcoin Lightning network to resume BTC withdrawals. Julio Moreno, head of research at CryptoQuant, in a tweet on May 8 revealed that people are commenting on huge Bitcoin outflows from Binance. Transactions such as 17k and 40k BTC on Sunday were recorded from Binance to other wallets. However, Binance sent these BTCs to a newly created wallet address that actually belongs to the crypto exchange Binance. Effective outflows are likely near 10k BTCs, which is far lower than the Binance outflow values shown on CryptoQuant. Trending Stories XRP Price...