Binance Records $1.23 Billion in Weekly Outflows as Ethereum Withdrawals Hit 3-Year High
Crypto exchange Binance recorded $1.23 billion in net outflows for the week ended July 5, driven primarily by Ethereum withdrawals surging to their highest level in more than three years. Data shared by analysts on Saturday showed that Binance's weekly outflows nearly tripled from recent levels, marking a sharp contraction in the exchange's custody holdings.
A spike in exchange withdrawals typically signals a shift in investor custody behavior, as traders move digital assets off centralized platforms into cold storage or prepare for potential market accumulation. The heavy outflow highlights notable stress across major exchange balances, which market participants may interpret as a change in risk appetite for blue-chip cryptocurrencies ahead of upcoming trading cycles.
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@cointelegraph🚨 WILD: Binance recorded $1.23 billion in weekly net outflows as Ethereum withdrawals surged to their highest level in over three years.
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@cryptobreaknewsBinance ETH withdrawals hit 3-year high; exchange outflows triple to $1.2B Binance has seen a notable shift in recent activity, with weekly withdrawals jumping sharply—most prominently in Ethereum—as analysts point to a mix of potential a