Insights

Back to back withdrawals from Bitcoin whales, first Bithumb and now Binance

exchange681 week ago

0 0 1 minute read

Definition

Breakdown of the net flow of coins into/out of exchanges by the USD value of the transactions.

Quick Take

Over $200 million worth of Bitcoin was withdrawn from exchanges on March 8.
This is in addition to over $150 million of Bitcoin being withdrawn on March 7.
Both withdrawals were led by whales (denoted by the red).
Two days ago, the whale withdrew from Bithumb, while yesterday, the withdrawals came from Binance.

Exchange Netflow Binance: (Source: Glassnode)

Exchange Netflow Bithumb: (Source: Glassnode)

Analyst

James Van Straten

Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century’s paramount invention.

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