Binance Sees Massive Whale Inflows, But Demand Looks Thin – Details

Large crypto holders moved about $2.4 billion in Bitcoin and Ether to Binance in the past week, a flow split almost evenly between the two tokens. According to CryptoOnchain, the size of individual deposits has jumped — average transfers onto the exchange rose from around eight to 10 Bitcoin to highs near 22 to 26 Bitcoin. Related Reading: $18 Million Ethereum Loss Sends Whale Running To Gold At the same time, withdrawals have shrunk, with the Exchange Outflow Mean reported between 5.5 and 8.3 Bitcoin. That change in behavior signals a shift away from taking coins into long-term storage and toward holding tradable balances on-platform. Rising Deposit Sizes And Flat Stablecoin Flows Based on reports, the move onto Binance did not arrive with fresh buying power. Stablecoin net flows were essentially flat, showing an inflow of $42 million for the week, a figure that analysts say mostly reflected token transfers between Ethereum and Tron rather than new capital entering crypto. CryptoOncha