iBNB

<ul><li>Binance saw $1.2B in net inflows on Aug 5, 2024, amid a market crash, reflecting strong investor confidence.</li><li>Major cryptos like Bitcoin and Ether dropped sharply on Aug 5, 2024, prompting a $600M liquidation of leveraged positions.</li><li>Robinhood faced $16.9 million in outflows due to the suspension of its 24-hour market execution venue.</li></ul><a href="https://cryptotale.org/binance-faces-86m-tax-bill-from-indian-authorities-report/" rel="noopener noreferrer nofollow">Binance </a>experienced a significant influx of funds on August 5, 2024, amidst a dramatic market downturn. The exchange recorded $1.2 billion in net inflows, marking one of its most successful trading days of the year. According to Binance CEO Richard Teng, the substantial inflows reflect strong investor confidence despite the market volatility. This surge coincided with a sharp drop in cryptocurrency prices, prompting traders to capitalize on the price swings. Data from <a href="https://defillama.com/cexs" rel="noopener noreferrer nofollow">DefiLlama</a> highlights this trend, showing a notable increase in Binance&#39;s net inflows.The primary sources of inflows to cryptocurrency exchanges include trading activity, transfers from external wallets, and fiat deposits used for purchasing crypto. Over the past 24 hours, Binance&#39;s net inflows increased by more than $2.2 billion, reaching a total of $101.2 billion. Besides <a href="https://cryptotale.org/justin-sun-withdraws-35-97m-in-eth-from-binance/" rel="noopener noreferrer nofollow">Binance</a>, other exchanges like ByBit, Crypto.com, and OKX also reported increased inflows, with $301.4 million, $107.8 million, and $97.7 million, respectively.<a href="https://cryptotale.org/binance-records-1-2b-inflows-amid-market-crash-report/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Binance Records $1.2B Inflows Amid Market Crash: Report

CryptoTale

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