Binance Reserves Drop $8 Billion Amid Market Uncertainty
Binance, the leading cryptocurrency exchange by trading volume, experienced an $8 billion decrease in reserves of Bitcoin, Ethereum, Tether, and USD Coin over the past week.
- CryptoQuant analyst Julio Moreno reported this decline, referring to pre-crash conditions when reserves were increasing due to inflated prices.
- Ethereum-based Tether reached an all-time high of $38.2 billion on Binance.
- Despite bearish sentiment from expected US tariffs on China, Binance saw a net inflow of $3.6 billion in the last 24 hours.
- Exchange inflows may not indicate selloffs but could suggest stablecoin inflows for buying opportunities.
- A recent $1.4 billion Tether inflow coincided with a short-term recovery following a major liquidation event.
- CoinGlass data shows recent net inflows of 226.8 million USDT and 417.5 million USDC into Binance.
- This movement might boost bullish sentiment unless impacted by further macroeconomic events.