{"id":65293,"date":"2023-11-22T17:29:46","date_gmt":"2023-11-22T21:29:46","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=65293"},"modified":"2023-11-22T17:30:46","modified_gmt":"2023-11-22T21:30:46","slug":"nansen-reports-continued-withdrawals-from-binance","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/nansen-reports-continued-withdrawals-from-binance\/","title":{"rendered":"Nansen Reports Continued Withdrawals from Binance"},"content":{"rendered":"\n

A post from November 22 states that although withdrawals are still occurring, Nansen is still waiting to witness a large-scale capital outflow<\/a>.<\/p>\n\n\n\n

\"Nansen
Nansen Reports Continued Withdrawals from Binance<\/figcaption><\/figure>\n\n\n\n

There were more withdrawals than inflows early in the day, with a $17 million negative netflow. Simultaneously, the blockchain analytics company <\/a>has experienced significant expansion, going from $64.6 billion to $65.2 billion when accounting for both withdrawals and market swings.<\/p>\n\n\n\n

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Here's our latest update on @binance\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, 12 hours after our previous one

At the time of writing, withdrawals are continuing, and we're not seeing a mass exodus of funds

Over the past hour on Ethereum, Binance has a $17M negative netfow (more leaving the exchange than what's\u2026 pic.twitter.com\/yQPtMl5ue8<\/use><\/svg><\/span><\/a><\/p>— Nansen \ud83e\udded (@nansen_ai) November 22, 2023<\/use><\/svg><\/span><\/a><\/blockquote>

In addition, Nansen highlights several trends by examining the shifts in token holdings within Binance's top assets over the same period of time. Holdings of Bitcoin decreased by $76 million, while USDT suffered a fall of $246 million. <\/p>\n\n\n\n

Conversely, holdings of BNB increased by $97 million, holdings of ETH increased by $196 million, and holdings of AETH increased by $59 million. The holdings of other stablecoins, such as TUSD and XRP, remained stable. <\/p>\n\n\n\n

Significant improvements were seen in SOL, LINK, and SHIB holdings, with rises of $34 million, $27 million, and $12 million, in that order. On the other hand, while MATIC holdings climbed by $14 million, USDC and BUSD holdings<\/use><\/svg><\/span><\/a> declined by $39 million and $11 million, respectively.<\/p>\n\n\n\n

A Reflection of Negative Sentiment<\/h2>\n\n\n\n

This information is released in the midst of what has been described as a wild start to the week for the cryptocurrency sector, following the announcement of criminal charges against Binance and its CEO, Changpeng Zhao, by the U.S. Department of Justice<\/a> (DOJ) and the SEC against the Kraken exchange. <\/p>\n\n\n\n

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