Two Addresses Withdrew $4.05 Million AAVE from Binance, Recent Incident in Crypto Space
CryptoNewsTerminal Staff24 May, 2024
Two Addresses Withdrew $4.05 Million AAVE from Binance, Recent Incident in Crypto Space
On-chain data analyst shared via Twitter that two new addresses withdrew a total of 39,800 AAVE (approximately $4.05 million) from Binance roughly three hours ago. Notably, the same addresses also withdrew 853 ETH (around $2.65 million) six days ago. This incident highlights the increasing trend of large cryptocurrency withdrawals from centralized exchanges. As more individuals and institutions prioritize self-custody and control over their digital assets, centralized exchanges may face challenges in retaining users. It is worth mentioning that this withdrawal does not necessarily indicate a negative sentiment towards Binance or AAVE. However, it does underscore the evolving landscape of cryptocurrency ownership and the growing demand for decentralized solutions.
