Glassnode
Outflows from Binance unfolded in sequence: XRP first, followed by SOL, then BTC, ETH, USDT and TRX together, and finally USDC. BNB balances were left untouched.
Why it matters
The movement was not limited to major assets. Dozens of smaller tokens also saw a large share of their Binance balances leave within the same hour, indicating that withdrawals spanned a broad set of assets.
Market impact
FUN was completely drained from Binance, according to the reported data. The outflows show a shift in exchange balances, but the data does not establish where the tokens went or whether they were sold.
Frequently asked questions
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Which assets moved out of Binance first?
XRP moved first, followed by SOL. BTC, ETH, USDT and TRX moved together, with USDC last.
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What happened to Binance's BNB balance?
BNB balances were left untouched during the reported outflows.
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Did the withdrawals involve only major cryptocurrencies?
No. Dozens of smaller tokens also saw a large share of their Binance balances leave within the same hour.
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What happened to FUN on Binance?
FUN was completely drained from the exchange, according to the reported data.
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Do the outflows show whether the tokens were sold?
No. The reported outflows show tokens leaving Binance but do not establish where they went or whether they were sold.
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