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<ul>
 <li style="font-weight: 400">Binance saw USDT withdrawals worth 100 million.</li>
 <li style="font-weight: 400">Regardless, the exchange’s daily trade volume crossed $11 billion.</li>
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Binance [BNB] has been the subject of FUD (Fear, Uncertainty, and Doubt) of late due to reports about fines and Changpeng Zhao stepping down. Additionally, recent data revealed a significant outflow of the stablecoin Tether [USDT] from Binance.
This outflow was over $100 million, and it marked the highest withdrawal in over three months. While previous instances showed spikes in USDT leaving the exchange, they were not over $50 million.
The current withdrawal volume could be routine market activity, but any surge raises suspicion, given the recent developments concerning the exchange.
See Also: <a href="https://bitcoinworld.co.in/bnb-dips-15-as-binance-ceo-cz-steps-down/" rel="noopener noreferrer nofollow">BNB Dips 15% As Binance CEO CZ Steps Down</a>
<h3 id="span-style-font-weight-400-bnb-volume-and-price-recovers-span">BNB Volume And Price Recovers</h3>
BNB has been understandably affected by the ongoing changes within the exchange. Since it experienced a more than 10% decline in value, it has struggled to regain the $250 price range.
At the time of this update, it was trading around $233, with a slight increase of less than 1%. The Relative Strength Index (RSI) confirmed a bear trend, with the RSI line positioned below the neutral line.
<figure style="width: 100%" class="wp-caption aligncenter">
 <img src="https://bitcoinworld.co.in/wp-content/uploads/BNB-Price-Chart-2-440x300.png" alt="" width="569" height="388">
 <figcaption>
 BNB Price Chart | Source: <a href="https://coinstats.app/coins/binance-coin/" rel="noopener noreferrer nofollow">Coinstats</a>
 </figcaption>
</figure>
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However, the trend stabilized following a peak in BNB’s trade volume — it surpassed $2 billion, according to an analysis of Santiment’s chart.
As of this writing, the trade volume was around $644 million. This decline in volume suggested a reduction in BNB’s trading activity.
See Also: <a href="https://bitcoinworld.co.in/fake-elon-musk-youtube-streams-lead-to-165k-crypto-scam/" rel="noopener noreferrer nofollow">Fake Elon Musk YouTube Streams Lead To $165k Crypto Scam</a>
<h3 id="span-style-font-weight-400-binance-retains-dominance-among-exchanges-span">Binance Retains Dominance Among Exchanges</h3>
Regardless, Bitcoinworld’s examination of the trading volume across all exchanges in the past 24 hours showed that Binance continued to have more daily transactions than other exchanges.
According to <a href="https://coinmarketcap.com/rankings/exchanges/" rel="noopener noreferrer">CoinMarketCap</a>, Binance recorded a trading volume of over $11.7 billion within 24 hours. The exchange with the second-highest volume was Coinbase, with over $2 billion.
<h3 id="span-style-font-weight-400-tvl-remains-undisturbed-span">TVL Remains Undisturbed&nbsp;</h3>
A close examination of the Binance Smart Chain (BSC) also showed that there had been no significant alteration to its <a href="https://defillama.com/chain/BSC?volume=false&amp;tvl=true" rel="noopener noreferrer nofollow">Total Value Locked</a> (TVL) as of press time. Despite price and exchange volume fluctuations, BNB’s TVL has remained relatively unaffected.
As of this writing, the TVL was around $3 billion, with a slight upward trend.
The post <a href="https://bitcoinworld.co.in/mass-withdrawal-of-usdt-from-binance-draws-concern/" rel="noopener noreferrer nofollow">Mass Withdrawal of USDT From Binance Draws Concern</a> appeared first on <a href="https://bitcoinworld.co.in" rel="noopener noreferrer nofollow">BitcoinWorld</a>.

Mass Withdrawal of USDT From Binance Draws Concern

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