Bitcoin

<h2 id="quick-take">Quick Take</h2>
<ul>
<li>Binance halted withdrawals last week due to the surge in miner fees and is now looking at options such as the Bitcoin<a href="https://cryptoslate.com/binance-working-to-enable-bitcoin-lightning-network/"> lightning network</a>.</li>
<li>There were reports on Twitter with significant outflows from Binance, but this was confirmed as <a href="https://cryptoslate.com/binance-says-bitcoin-outflows-are-internal-wallet-movements/">internal wallet movements</a>.</li>
<li>However, with data from Glassnode, we can now see that 20,000 Bitcoin have left Binance in the past seven days.</li>
<li>This is the fourth biggest withdrawal period in the past two years, only eclipsed by the FTX collapse and the China mining ban in the summer of 2021.</li>
<li>Both times were at local price bottoms.</li>
</ul>
<figure id="attachment_323604" aria-describedby="caption-attachment-323604" style="width: 1800px" class="wp-caption aligncenter"><img class="wp-image-323604 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/05/bina.jpg" alt="Binance Exchange Balance: (Source: Glassnode)" width="1800" height="1013" srcset="https://cryptoslate.com/wp-content/uploads/2023/05/bina.jpg 1800w, https://cryptoslate.com/wp-content/uploads/2023/05/bina-300x169.jpg 300w, https://cryptoslate.com/wp-content/uploads/2023/05/bina-1024x576.jpg 1024w, https://cryptoslate.com/wp-content/uploads/2023/05/bina-768x432.jpg 768w, https://cryptoslate.com/wp-content/uploads/2023/05/bina-1536x864.jpg 1536w" sizes="(max-width: 1800px) 100vw, 1800px" /><figcaption id="caption-attachment-323604" class="wp-caption-text">Binance Exchange Balance: (Source: Glassnode)</figcaption></figure>
<p>The post <a rel="nofollow" href="https://cryptoslate.com/insights/bitcoin-exodus-from-binance-20k-btc-withdrawn-in-just-seven-days/">Bitcoin exodus from Binance: 20K BTC withdrawn in just seven days</a> appeared first on <a rel="nofollow" href="https://cryptoslate.com">CryptoSlate</a>.</p>

Bitcoin exodus from Binance: 20K BTC withdrawn in just seven days

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