How Much Bitcoin, Ethereum And USDT Has Been Withdrawn From Binance? Are Reserves Strong?

Recently US Commodity Futures Trading Commission (CFTC) world’s largest cryptocurrency exchange has filed a lawsuit against Binance and its CEO, CZ.

this case Binance Some investors started to withdraw their money from Binance, while causing the FUD level to rise.

At this point, while investors are in a dilemma about whether Binance is still reliable, the popular cryptocurrency analysis platform CryptoQuantAfter Binance’s FTX crash, regulator FUD examined Bitcoin Ethereum and stablecoin outflows and reserves during Paxos’ halting of BUSD issuance, and most recently the CFTC litigation.

CryptoQuant, which first examined Bitcoin, Ethereum and Stablecoin outflows, stated that according to on-chain data, reserves remained at high levels even during Binance’s FUD periods.

According to the report, Binance’s chart is as follows:

“1- December 2022 (the “regulatory FUD” period after the collapse of FTX:

BTC:Net output of -40,353 BTC in one day and -78,744 BTC total in one week
ETH: Highest net outflow per day -278,000 ETH.
stablecoin: Net output of $871 million

2- February 2023 (Paxos’ announcement to stop printing BUSD)

BTC:The biggest daily net outflow occurred on February 12 with -5,027 BTC.
ETH: Net daily output is -79,706 ETH.
stablecoin: Net outflow of $671 million, the highest daily outflow in February

3- March 2023 (CFTC case):

BTC: Net output of -4,505 BTC per day.
ETH: Net output of -76,146 ETH per day.
stablecoin: A total net outflow of $1 billion since the lawsuit.”

Binance’s bitcoin And Ethereum Looking at its reserves, the platform stated that Binance remained at healthy levels with increased reserves compared to December levels.

BTC while its reserves increased to 509,000, 581,000 BTC in December 2022, ETH reserves increased from 4,420 million in December to 4,487 million.

Finally, making a general assessment CryptoQuant said:

“Looking at the on-chain data, we found that even after increased regulatory scrutiny, Binance’s BTC and ETH reserves remained high.

This is a result of users withdrawing smaller amounts from Binance even when there is a regulatory announcement or negative industry news about the exchange.

In addition, net outflows remained within historical ranges compared to total reserves.

As the CFTC case has just been announced, we’ll have to watch how on-chain data reacts to it.

In addition, Exchange to Exchange Flows data shows that investors still see Binance as a reliable and desirable exchange.”

Binance Exchange’s Health After the CFTC Lawsuit

CQ’s research team assessed the behavior of Binance net-outflows and reserves of $BTC, $ETHand Stablecoins in three recent stress-test periods.
– Regulatory FUD after FTX Collapse
– Paxos’ announcement
– CFTC lawsuit

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— CryptoQuant.com (@cryptoquant_com) March 30, 2023

*Not investment advice.