General News

Despite problems with Binance, another 2,500 bitcoin entered the exchange

After Binance gave its users a “scare” at the beginning of the month, announcing the suspension of withdrawals with bitcoin and other cryptocurrencies, people went on with their lives. Despite the problems and criticism that the event generated, bitcoin (BTC) deposits continued to flow to the exchange.

In total, to the exchange more than 10,000 BTC entered during the day of this Monday, November 1, while in withdrawals there were about 7,800 BTC, according to data from Glassnode. Thus, the platform’s flow of bitcoins was in the green, adding some 2,474 bitcoins to the exchange’s reserves, the second highest figure for a day in the last two weeks.

On October 28 there was a positive balance in Binance’s coffers of about 2,700 BTC. Before that, It is time to go back to the 16th of the same month to see a greater positive flow: 4,500 bitcoins entering the exchange’s balance sheet.

This Monday, November 1, there was an increase of more than 2,400 bitcoins in the
Binance coffers. Source: Glassnode.

The situation with incoming money to Binance is not limited to bitcoin. The Glassnode graphs show the same behavior for the cases of the stablecoin Tether (USDT), the main currency anchored to the dollar used as an exchange pair in the cryptocurrency market.

In this case, there was more than 52 million USDT of positive balance on the platform this Monday, after four consecutive days in the red, including an outflow of more than 400 million USDT on Friday, October 29.

In USDT there was also a positive balance this Monday. Source: Glassnode.

Criticism rained down, but money kept pouring into Binance

In short, users did not seem to be affected too much by the cessation of withdrawals that occurred this Monday. They also do not seem to have reacted to the fact that it happened on at least two occasions, nor the doubts that this behavior generated on the part of the exchange.

Some, yes, harshly criticized what happened with Binance this Monday when comparing the exchange with the banks or even wondering if their balances deposited on the platform would be safe, as . reported.

Binance is not only the exchange with the highest trading volume in the cryptocurrency market. Also, today, it maintains more than 20% of the bitcoins that are deposited in exchanges and leads the market with a very diverse offer of trading options, exchange to fiat money and even purchases of all kinds.

About the author

Donna Miller

Donna is one of the oldest contributors of Gruntstuff and she has a unique perspective with regards to Science which makes her write news from the Science field. She aims to empower the readers with the delivery of apt factual analysis of various news pieces from Science. Donna has 3.5 years of experience in news-based content creation, and she is now an expert at it. She loves journalism, and that is the reason, she moved from a web content writer to a News writer, and she is loving it. She is a fun-loving woman who has very good connections with every team member. She makes the working environment cheerful which improves the team’s work productivity.

Add Comment

Click here to post a comment