Money Outflows from the Giant Stock Exchange Continue: Here’s the Latest Figure!

Blockchain intelligence platform nansenAccording to the data of Binance in the last 24 hours 902 million dollar net outflow.

Binance, the world’s largest crypto exchange by trading volume, faced a wave of withdrawals on Monday amid concerns over its proof-of-reserve report.

Binance Withdrawals Increase as Concerns Over Reserve Report Scare Investors

According to data from blockchain intelligence platform Nansen, net outflows, which is the difference between the value of assets coming in and out of the stock market, reached $902 million in the last 24 hours. Binance’s net outflow has surpassed that of all other centralized exchanges in the past 24 hours.

The exit does not appear to be significantly abnormal, given that there is an apparent $64 billion in assets in Binance, the Arkham analyst wrote in a Telegram chat.

Withdrawals have increased in the wake of a series of alarming reports about Binance and as investors become increasingly cautious about their funds on centralized exchanges.

The rapid collapse of rival exchange FTX, adding to other industry problems, has prompted other exchanges to prove that they are protecting their clients’ assets.

Binance prepared last week by audit firm Mazars and Bitcoin (BTC) published a report stating that its reserves were over-collateralized.

*Not investment advice.