Red Alert For the Binance Exchange! Will This Move Sink the Company!
The day does not pass in crypto currencies so that there is no new development. While everyone is waiting for positive developments, it seems that a negative news is also happening on the side of Binance. All this attracted the attention of the world-famous Twitter user Blockanalia, or Andrew T, as he is known.
There Are Mind-Blowing Exits On the Binance Side
As Binance FUD increases, there are numerous and mind-boggling outflows that are independent of each other on different time scales. Considered one of the largest market makers in the crypto world, Jump alone attracted over $135 million in a week, while Wintermute attracted about $ 10 million in the last hour, and more importantly, there was a net outflow of $300 million from the Binance exchange the other day.
Normally, Jump has big entries/exits to exchanges, and this is known to the entire crypto world. According to Andrew T, the situation is different this time. Jump has used $ 245 million in the month, $ 106 million in the past week and $ 30 million in the last 24 hours. It seems that these BUSD reserves are being used to convert the available crypto coins into cash seriously and quickly, and at the same time not to burn them again.
According to the data shared by Andrew T, Jump’s weekly net outflow from Binance exceeded $ 146 million, and even worse, it has no inflows at all. If the Binance side seems to have lost all its liquidity at once and completely, there is probably a good reason for the outflows carried out by the largest market maker.
The Latest Situation in Crypto Currencies
While all this is happening, when looking at Bitcoin, it is noteworthy that it is trading above $ 17,000. It can be concluded from here that these transactions carried out by Jump do not have much impact on the market, at least for now. In addition, when we look at altcoins, it is worth noting that they also have a horizontal course.
When we look at Ethereum, which is the leader of altcoins, it is trading at 1260 dollar levels, which may be one of the biggest indicators of the recession in the market, because the 24-hour price change was only 0.12%.
Disclaimer: The information contained in this article does not contain investment advice at all. Investors should know that cryptocurrencies carry risks due to their high volatility and should carry out their transactions in accordance with their own research.
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