Binance's Recent Surge in Inflows May Indicate Institutional Hedging
CryptoNewsTerminal Staff06 Aug, 2024
Binance's Recent Surge in Inflows May Indicate Institutional Hedging
Ki Young Ju, the CEO of CryptoQuant, recently tweeted that crypto inflows to Binance, including Bitcoin, have reached their highest level this year. He clarified that these inflows are primarily driven by crypto-native institutions like Jump Trading rather than retail investors. Ju speculates that this influx of funds into Binance could be a strategy to mitigate risk or to increase collateral for existing long positions. He believes the former is more likely given the current market conditions. Earlier, Binance CEO Richard Teng announced that the exchange had received $1.2 billion in net inflows within the past 24 hours, the largest amount recorded this year.
