Binance outflows triple to $1.2B as ETH withdrawals hit 3-year high
Summary
Binance saw a sharp jump in weekly net outflows, reaching $1.23 billion in the week starting June 29, up 207% from about $400 million the prior week. Monthly net outflows were about $3.2 billion. At the same time, Ethereum withdrawals on Binance hit their highest level in more than three years, with over 166,000 withdrawal transactions in a single day. Possible drivers include accumulation behavior, MiCA-related regulatory uncertainty, and short-term positioning. The withdrawals coincided with ETH’s price rebound, with Ether up about 12.5% over the past week to around $1,766. Other major exchanges also saw outflows, led by Bitfinex, Gate, OKX, and Bybit, while inflows were relatively modest and led by Crypto.com and HashKey.
