Crypto
Bitcoin Flows Diverge as Binance Sees Massive Inflows
Bitcoin flows into and out of major exchanges have diverged significantly according to recent data from CryptoQuant. On September 15, Binance saw a net inflow of 4,617.90 BTC while Coinbase experienced a net outflow of 3,171 BTC.
The Bitcoin price was at its lowest close of the period on that day, reaching $75,640. However, in the following session, both exchanges showed positive net flows with Binance and Coinbase recording plus 1,696 BTC and plus 1,881 BTC respectively.
The Bitcoin price also rose to $76,152 during this time.
Stablecoin activity on Binance surged in the week ending September 16, with a daily average of 48,230 deposit transactions. This figure is more than 190 percent above the quarterly baseline.