quick take
- Binance suspended withdrawals last week due to a spike in miner fees and is now considering options such as Bitcoin’s Lightning Network.
- A massive outflow from Binance was reported on Twitter, which was confirmed as an internal wallet movement.
- However, using Glassnode’s data, we can see that 20,000 bitcoins left Binance in the last 7 days.
- It was the fourth largest withdrawal period in the last two years, only overshadowed by the fall of FTX and China’s mining ban in the summer of 2021.
- Both are local price bottoms.
Bitcoin outflow from Binance: A post about 20K BTC withdrawn in just 7 days first appeared on CryptoSlate.
