{"id":26130,"date":"2024-08-07T19:00:01","date_gmt":"2024-08-07T16:00:01","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=26130"},"modified":"2024-08-07T10:47:23","modified_gmt":"2024-08-07T07:47:23","slug":"binance-records-1-2-billion-net-inflow-during-market-crash","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/binance-records-1-2-billion-net-inflow-during-market-crash\/","title":{"rendered":"Binance Records $1.2 Billion Net Inflow During Market Crash"},"content":{"rendered":"<p>Cryptocurrency exchange <strong>Binance<\/strong> significantly benefited from the market crash on August 5, recording a net inflow of $1.2 billion as investors responded to the sharp decline in cryptocurrency prices.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/binance-records-1-2-billion-net-inflow-during-market-crash\/#Strong_Investor_Confidence\" title=\"Strong Investor Confidence\">Strong Investor Confidence<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/binance-records-1-2-billion-net-inflow-during-market-crash\/#Market_Reactions_and_Volume\" title=\"Market Reactions and Volume\">Market Reactions and Volume<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/coinengineer.net\/blog\/binance-records-1-2-billion-net-inflow-during-market-crash\/#Market_Resilience_and_Future_Volatility\" title=\"Market Resilience and Future Volatility\">Market Resilience and Future Volatility<\/a><\/li><\/ul><\/nav><\/div>\n<h3><span class=\"ez-toc-section\" id=\"Strong_Investor_Confidence\"><\/span>Strong Investor Confidence<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Binance CEO Richard Teng<\/strong> stated, &#8220;This is one of the highest net inflow days of 2024, indicating strong investor confidence,&#8221; in a post on X on August 6, citing data from DeFiLlama&#8217;s centralized exchange transparency dashboard.<\/p>\n<p>There are typically three main types of inflows seen in cryptocurrency exchanges: trading activity, transfers from external wallets, and fiat deposits used to purchase crypto.<\/p>\n<p>DeFiLlama&#8217;s CEX transparency dashboard shows that Binance&#8217;s net inflows increased by over $2.2 billion in the past 24 hours, reaching $101.2 billion.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Market_Reactions_and_Volume\"><\/span>Market Reactions and Volume<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Other exchanges like ByBit, Crypto.com, and OKX also saw net inflow increases of $301.4 million, $107.8 million, and $97.7 million, respectively, in the past 24 hours. Meanwhile, Robinhood experienced a $16.9 million outflow as it suspended the 24-hour market execution platform Blue Ocean ATS early on August 6.<\/p>\n<p>Blockchain analytics firm <strong>K33 Research<\/strong> noted that cryptocurrency exchanges processed 268,830 Bitcoin worth $15 billion in spot trading volume on August 5, marking the highest amount since Binance&#8217;s zero-fee regime in 2022-2023.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Market_Resilience_and_Future_Volatility\"><\/span>Market Resilience and Future Volatility<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>According to <strong>Binance<\/strong> <strong>Australia<\/strong>, despite the sharp decline, the fundamental value and potential of digital assets remain intact. Ben Rose, General Manager of Binance Australia and New Zealand, stated, &#8220;History shows that the cryptocurrency market demonstrates resilience and recovery following correction periods.&#8221;<\/p>\n<p>&#8220;<em>Despite the current challenges, we do not view this downturn as a long-term negative trend for the crypto market,&#8221;<\/em> he added. He also noted the potential for more significant market volatility in the near future, considering possible US Federal Reserve interest rate cuts and political uncertainties.<\/p>\n<p>According to CoinGecko data, <strong>Bitcoin<\/strong> rose by 14% to $56,770 after hitting a low of $49,780 on August 5.<\/p>\n<p><i><span style=\"font-weight: 400;\">You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our <\/span><\/i><a href=\"https:\/\/t.me\/coinengineernews\"><i><span style=\"font-weight: 400;\">Telegram, <\/span><\/i><\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\"><i><span style=\"font-weight: 400;\">YouTube<\/span><\/i><\/a><i><span style=\"font-weight: 400;\">, and <\/span><\/i><a href=\"https:\/\/twitter.com\/coinengineers\"><i><span style=\"font-weight: 400;\">Twitter<\/span><\/i><\/a><i><span style=\"font-weight: 400;\"> channels for the latest <\/span><\/i><a href=\"https:\/\/coinengineer.io\/news\/\"><i><span style=\"font-weight: 400;\">news<\/span><\/i><\/a><i><span style=\"font-weight: 400;\"> and updates.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cryptocurrency exchange Binance significantly benefited from the market crash on August 5, recording a net inflow of $1.2 billion as investors responded to the sharp decline in cryptocurrency prices. Strong Investor Confidence Binance CEO Richard Teng stated, &#8220;This is one of the highest net inflow days of 2024, indicating strong investor confidence,&#8221; in a post<\/p>\n","protected":false},"author":6,"featured_media":11035,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,657,1],"tags":[22,2474],"class_list":["post-26130","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-en","category-genel","tag-binance","tag-richard-teng"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Binance Records $1.2 Billion Net Inflow During Market Crash - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/binance-records-1-2-billion-net-inflow-during-market-crash\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Binance Records $1.2 Billion Net Inflow During Market Crash - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Cryptocurrency exchange Binance significantly benefited from the market crash on August 5, recording a net inflow of $1.2 billion as investors responded to the sharp decline in cryptocurrency prices. 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