Binance Sees $1.2B in Weekly Outflows as ETH Exits Hit 3-Year High
Binance recorded $1.23B in net weekly outflows, a 207% spike, as Ethereum withdrawals reached their highest level in three years.
Binance, the world's largest cryptocurrency exchange by volume, suffered $1.23 billion in net outflows during a single week, a dramatic 207% surge compared to the prior week, as Ethereum withdrawals climbed to their highest point in three years, according to new data reported by Cointelegraph.
The scale of the exodus signals growing unease among large token holders, commonly known as whales, who appear to be pulling digital assets off the centralized platform at an accelerating pace. When outflows of this magnitude concentrate on a single exchange, analysts typically interpret the move as a sign of either profit-taking, a shift toward self-custody, or broader concern about counterparty risk on centralized venues.
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Ethereum's outsized role in the withdrawals is particularly notable. A three-year high in ETH exits suggests that holders of the second-largest cryptocurrency by market capitalization are making deliberate decisions to move assets off Binance specifically, rather than simply reducing overall crypto exposure. Whether that capital is rotating into cold wallets, rival exchanges, or decentralized finance protocols remains an open question based on available data.
The 207% week-over-week jump in total net outflows is a figure that markets will watch closely in the sessions ahead. Sustained outflow pressure can tighten on-exchange liquidity, potentially amplifying price volatility for assets still traded on the platform. Historically, sharp outflow spikes at major exchanges have preceded periods of heightened market uncertainty, though they do not always signal an imminent price collapse.
Continue reading at Cointelegraph.
