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 <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
  <p lang="en" dir="ltr">🚨 🚨 🚨 🚨 🚨 4,000 #BTC (106,039,171 USD) transferred from #Bitfinex to unknown wallethttps://t.co/982bCEb4SO</p>  
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  <p>— Whale Alert (@whale_alert) August 24, 2023</p> 
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 <p></p> 
 <p><span style="font-weight: 400;">However, besides the one-minute wonder, a six-day streak from August 17 showed </span><span style="font-weight: 400;">Bitcoin outflows</span><span style="font-weight: 400;"> dominating the <a rel="noopener noreferrer nofollow" title="Binance" href="https://thebittimes.com/tag/binance.html">Binance</a> exchange. Hence, by August 22, 14,460 BTC found their way out of <a rel="noopener noreferrer nofollow" title="Binance" href="https://thebittimes.com/tag/binance.html">Binance</a>’s reserves.</span></p>  
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 <p><span style="font-weight: 400;">Moreover, <a rel="noopener noreferrer nofollow" title="Binance" href="https://thebittimes.com/tag/binance.html">Binance</a> is one of many platforms seeing such massive withdrawals. Glassnode’s recent insights highlighted a 5-year low for BTC balances across all major exchanges.&nbsp;</span></p> 
 <p><img decoding="async" class="wp-image-157573 aligncenter" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%20649%20319'%3E%3C/svg%3E" alt="" width="649" height="319" data-lazy-src="https://cdn.thebittimes.com/images/2023/08/24/067d1014fc28cb6716bb0cce5300ddf2.webp"> 
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 <p style="text-align: center;">&nbsp;<em>BTC Balance on Exchages (Source: glassnode)</em></p>  
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 <p><span style="font-weight: 400;">Consequently, fewer than 2.27 million BTC remain in known exchange wallets. Additionally, these shifts point to ‘HODLers’ preferring the safety of private wallets, indicating a potential reluctance to sell their holdings in the immediate future.</span></p> 
 <h2 id="b-fee-overhaul-at-binance-b"><b>Fee Overhaul at Binance&nbsp;</b></h2> 
 <p><span style="font-weight: 400;">Additionally, with <a rel="noopener noreferrer nofollow" title="Binance" href="https://thebittimes.com/tag/binance.html">Binance</a>’s pivot from a zero-fee </span><span style="font-weight: 400;">Bitcoin</span><span style="font-weight: 400;"> trading model starting September 7, the dynamics of its BTC/TUSD trading pair will undergo a significant transformation. The days of enjoying zero-maker and taker fees are ending. Moreover, while the maker fees will hold zero status, taker fees will now hinge on the user’s VIP level.</span></p> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
  <p lang="en" dir="ltr">#<a rel="noopener noreferrer nofollow" title="Binance" href="https://thebittimes.com/tag/binance.html">Binance</a> will update the zero-fee Bitcoin trading program effective from September 7, at 00:00 UTC.https://t.co/nlHvZU4ZJ0</p> 
  <p>— Binance (@binance) August 24, 2023</p> 
 </blockquote> 
 <p></p> 
 <p><span style="font-weight: 400;">With </span><span style="font-weight: 400;"><a rel="noopener noreferrer nofollow" title="Binance" href="https://thebittimes.com/tag/binance.html">Binance</a> phasing</span><span style="font-weight: 400;"> out BUSD support in favor of TUSD, a noticeable drop in Tether (USDT) volumes came to the fore. Many seasoned traders and crypto enthusiasts see this as a pivotal moment with far-reaching market implications. Consequently, as this new crypto phase looms, all eyes remain on <a rel="noopener noreferrer nofollow" title="Binance" href="https://thebittimes.com/tag/binance.html">Binance</a>’s subsequent moves and the overarching market aftermath.</span></p> 
 <p><span style="font-weight: 400;">The crypto sphere is experiencing some noteworthy shifts. The landscape is evolving with changes in trading fee structures and substantial BTC withdrawals. As these events unfold, market players and enthusiasts will watch closely, anticipating the next significant turn.</span></p> 
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Binance Witnesses 5000 BTC Withdrawn in Just 60 Seconds

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