Bitcoin

<h2 id="quick-take">Quick Take</h2>
Over the past two days, Binance has seen an influx of Bitcoin amounting to more than $300 million, according to data reported by CryptoSlate and Glassnode. This surge is marked by two substantial inflows, with roughly <a href="https://cryptoslate.com/insights/mammoth-bitcoin-200m-single-day-inflow-to-exchanges-mirrors-key-2023-moments/" rel="noopener noreferrer nofollow">$200 million</a> returning to the exchange on Oct. 11 and an additional inflow of approximately $120 million on Oct. 12.
Currently, Binance holds around 682,000 BTC, a sum that is approximately 70,000 BTC less than its all-time high observed in May 2023. Notably, this figure represents about 3.5% of all Bitcoin currently held on exchanges. The data suggests a considerable concentration of Bitcoin on Binance, underlining the platform’s prominence.
These inflows indicate the activity of ‘whale’ or large-scale investors, given that the bulk of these transactions range from $1M to $10M. These substantial inflows represent significant market movements that CryptoSlate will continue to track.
<figure id="attachment_364519" aria-describedby="caption-attachment-364519" style="width: 100%" class="wp-caption aligncenter"><img class="wp-image-364519 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/10/B2B.png" alt="Net Transfer volume: (Source: Glassnode)" width="1800" height="1013" srcset="https://cryptoslate.com/wp-content/uploads/2023/10/B2B.png 1800w, https://cryptoslate.com/wp-content/uploads/2023/10/B2B-300x169.png 300w, https://cryptoslate.com/wp-content/uploads/2023/10/B2B-1024x576.png 1024w, https://cryptoslate.com/wp-content/uploads/2023/10/B2B-768x432.png 768w, https://cryptoslate.com/wp-content/uploads/2023/10/B2B-1536x864.png 1536w" sizes="(max-width: 1800px) 100vw, 1800px">
 <figcaption id="caption-attachment-364519" class="wp-caption-text">
 Net Transfer volume: (Source: Glassnode)
 </figcaption>
</figure>
<figure id="attachment_364525" aria-describedby="caption-attachment-364525" style="width: 100%" class="wp-caption aligncenter"><img class="wp-image-364525 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/10/Binance.png" alt="Binance Bitcoin Balance: (Source: Glassnode)" width="1800" height="1013" srcset="https://cryptoslate.com/wp-content/uploads/2023/10/Binance.png 1800w, https://cryptoslate.com/wp-content/uploads/2023/10/Binance-300x169.png 300w, https://cryptoslate.com/wp-content/uploads/2023/10/Binance-1024x576.png 1024w, https://cryptoslate.com/wp-content/uploads/2023/10/Binance-768x432.png 768w, https://cryptoslate.com/wp-content/uploads/2023/10/Binance-1536x864.png 1536w" sizes="(max-width: 1800px) 100vw, 1800px">
 <figcaption id="caption-attachment-364525" class="wp-caption-text">
 Binance Bitcoin Balance: (Source: Glassnode)
 </figcaption>
</figure>
The post <a rel="noopener noreferrer nofollow" href="https://cryptoslate.com/insights/bitcoin-floods-binance-with-300m-in-deposits-in-48-hours/">Bitcoin floods Binance with $300M in deposits in past 48 hours</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://cryptoslate.com">CryptoSlate</a>.

Bitcoin floods Binance with $300M in deposits in past 48 hours

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