Blockchain data analytics platform CryptoQuant has recorded a massive outflow of 38,246 BTC from Binance.
CryptoQuant has detected a major exit from leading crypto asset trading platform Binance. After this exit, the balance sheet of the stock market is estimated to be around 500,000 BTC.
Binance, the US arm of the platform, recently. In the US, the Bitcoin price snapped to $8,000 with a momentary error. This situation occurs when sufficient liquidity cannot be provided on the platform. In this case, the volatility of the asset increases exponentially, causing a huge drop in value.
On the other hand, some Bitcoin investors tend to move their BTC holdings to their own wallets as it sets a new record and transaction volumes remain stable.