{"id":526422,"date":"2022-12-14T00:15:00","date_gmt":"2022-12-13T21:15:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/binance-net-withdrawals-topped-3-6b-over-the-last-7-days-report\/"},"modified":"2022-12-14T00:15:00","modified_gmt":"2022-12-13T21:15:00","slug":"binance-net-withdrawals-topped-3-6b-over-the-last-7-days-report","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/binance-net-withdrawals-topped-3-6b-over-the-last-7-days-report\/","title":{"rendered":"# Binance net withdrawals topped $3.6B over the last 7 days: Report"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3cb0323073f\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3cb0323073f\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/binance-net-withdrawals-topped-3-6b-over-the-last-7-days-report\/#%E2%80%9D_Binance_net_withdrawals_topped_36B_over_the_last_7_days_Report_%E2%80%9C\" >&#8221; Binance net withdrawals topped $3.6B over the last 7 days: Report &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Binance_net_withdrawals_topped_36B_over_the_last_7_days_Report_%E2%80%9C\"><\/span>&#8221; Binance net withdrawals topped $3.6B over the last 7 days: Report &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-30a6cf80>Binance <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ears to be suffering from a decline in liquidity. A report from crypto analytics firm, Nansen, indicates that Binance has had net withdrawals of more than $3.6 Billion from Dec. 7 to Dec. 13.<\/p>\n<p>Binance gross outflows have been approximately $8.8 billion, while gross inflows have been around $5.1 billion.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Binance Netflow 7D ($) -3,660,311,347<\/p>\n<p>8,783,380,428 &#8211; Outflow<br \/>5,123,069,081 &#8211; Inflow<\/p>\n<p>Exchange Flows dashboard \u2935\ufe0f<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/CYrBQLryQ0\">https:\/\/t.co\/CYrBQLryQ0<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/vV6vcqoWKK\">pic.twitter.com\/vV6vcqoWKK<\/a><\/p>\n<p>\u2014 Nansen  (@nansen_ai) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/nansen_ai\/status\/1602677725218492416?ref_src=twsrc%5Etfw\">December 13, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>In addition, daily net inflows of Ethereum ERC-20 tokens to Binance were more than $2 billion per day back in November, but have reversed into outflows of over $1 billion from Dec. 12-13.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-12\/743ec121-8921-49f0-876e-8268b248c743.png\"><figcaption style=\"text-align: center;\"><em>Binance ERC-20 Token Flow and Balance. Source: Nansen Analytics<\/em><\/figcaption><\/figure>\n<p>According to Nansen technician Andrew Thurman, the drop in liquidity may have been partially caused by large market makers exiting the exchange. Thurman\u2019s research suggested that Wintermute <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Blockanalia\/status\/1602318148157440000\">withdrew<\/a> over $300 million on Dec. 11-12 and Jump Finance <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Blockanalia\/status\/1602337143048781826\">redeemed<\/a> over $30 million in Binance USD (BUSD) from Dec. 12-13.<\/p>\n<p>Binance is the world\u2019s largest cryptocurrency exchange by volume, but it came under pressure on Dec. 12 when a report claimed that the U.S. Department of Justice is considering charging its executives with financial crimes. The Department of Justice has not released an official statement about the matter, but Binance has claimed that the report is \u201cwrong.\u201d<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Reuters has it wrong again. <\/p>\n<p>Now they&#8217;re attacking our incredible law enforcement team. A team that we&#8217;re incredibly proud of &#8211; they&#8217;ve made crypto more secure for all of us. <\/p>\n<p>Here\u2019s the full statement we sent the reporter and a blog about our remarkable law enforcement team.<\/p>\n<p>\u2014 Binance (@binance) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/binance\/status\/1602287184400326656?ref_src=twsrc%5Etfw\">December 12, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In response to the outflows, Binance\u2019s CEO, Changpeng Zhao (also known as \u201cCZ\u201d), has <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/cz_binance\/status\/1602676998094069760\">claimed<\/a> that the event may be good for the exchange, as it will serve as a \u201cstress test\u201d that will prove Binance is solvent, stating:<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">We saw some withdrawals today (net $1.14b ish). We have seen this before. Some days we have net withdrawals; some days we have net deposits. Business as usual for us.<\/p>\n<p>I actually think it is a good idea to \u201cstress test withdrawals\u201d on each CEX on a rotating basis. <\/p>\n<p>1\/2 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/uF9lLPDSyS\">https:\/\/t.co\/uF9lLPDSyS<\/a><\/p>\n<p>\u2014 CZ  Binance (@cz_binance) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/cz_binance\/status\/1602676998094069760?ref_src=twsrc%5Etfw\">December 13, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Despite this positive attitude though, Binance\u2019s own educational resources state that low liquidity can <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/academy.binance.com\/en\/articles\/bid-ask-spread-and-slippage-explained\">lead<\/a> to widening bid-ask spreads and greater slippage, both of which can be negative for customers.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"defi_newsletter\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/binance-net-withdrawals-topped-3-6b-over-the-last-7-days-report\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Binance net withdrawals topped $3.6B over the last 7 days: Report &#8220; Binance appears to be suffering from a decline in liquidity. A report from crypto analytics firm, Nansen, indicates that Binance has had net withdrawals of more than $3.6 Billion from Dec. 7 to Dec. 13. Binance gross outflows have been approximately $8.8&#8230;<\/p>\n","protected":false},"author":1,"featured_media":526423,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2022-12\/4bbfa0c7-8ebb-4b2e-9123-5de205a60398.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75014,74894,77672,74860,117],"class_list":["post-526422","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-binance","tag-blockchain","tag-changpeng-zhao","tag-cryptocurrency-exchange","tag-business"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/526422","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=526422"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/526422\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/526423"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=526422"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=526422"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=526422"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}