Binance sees $2.4b net inflow after market downturn in past 5 days
CryptoNewsTerminal Staff07 Aug, 2024
Binance sees $2.4b net inflow after market downturn in past 5 days
Binance Sees Net Inflow of $2.4 Billion After Market Downturn Following the recent market downturn, blockchain analytics firm Lookonchain reported that Binance has received a net inflow of $2.4 billion in the past 5 days. According to Lookonchain, "some investors are trying to buy the dip." The majority of the inflow, $1.33 billion, was in the form of USDT, with an additional $519 million in USDC. This suggests that investors are seeking safe-haven assets in the face of market volatility. Binance has been a popular destination for funds during periods of market uncertainty. In May 2022, the exchange saw a net inflow of $1.3 billion following the Terra collapse. The recent inflow is another sign that investors are turning to Binance as a trusted platform during times of volatility.
