Spot BTC worth $200M re-enters exchanges on Binance following Genesis bankruptcy news
Definition Breakdown of the net flow of coins into/out of exchanges by the USD value of the transactions. Quick Take $200M of Bitcoin (BTC) went back onto Binance, Jan. 20 — a similar amount to Jan. 13, which took BTC over $21,000. The transfer is primarily institutional, as it is more than $10 million. With […]
12
Don't got time to read? Listen it & multi task
Definition
- Breakdown of the net flow of coins into/out of exchanges by the USD value of the transactions.
Quick Take
- $200M of Bitcoin (BTC) went back onto Binance, Jan. 20 — a similar amount to Jan. 13, which took BTC over $21,000.
- The transfer is primarily institutional, as it is more than $10 million.
- With Genesis filing bankruptcy, it is encouraging to see BTC holding above $20,000.
- The substantial transfers are coming from Binance, which is sparking market volatility.
![Bitcoin: Net Transfer Volume from/to Exchanges Breakdown by Size [USD]: (Source: Glassnode)](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201800%201013'%3E%3C/svg%3E)
Bitcoin: Net Transfer Volume from/to Exchanges Breakdown by Size [USD]: (Source: Glassnode)
The post Spot BTC worth $200M re-enters exchanges on Binance following Genesis bankruptcy news appeared first on CryptoSlate.
