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Bullish Crypto Traders Pour Nearly $907 Million Into Crypto Exchange Binance

July 20, 2019

Crypto analyst Nik Patel has compiled an overview of the amount of cash flowing into and out of eight leading cryptocurrency exchanges.

The figures, which are pulled from an analysis by Token Analyst, show Binance brought in $907 million in cash in the last month. Binance CEO Changpeng Zhao says traders began returning to the exchange in large numbers starting in early April, when the price of Bitcoin popped from around $4,100 to over $5,000 in a two-day period.

Using data on https://t.co/IT7N6RZRBF, 30-day net cash flows from exchanges:

1. Binance: +$907,064,539

2. Bitstamp: +$735,856,974

3. Bittrex: +$16,034,858

4. KuCoin: -$253,105

5. Kraken: -$54,686,740

6: Poloniex: -$83,369,350

7. BitMex: -$310,965,504

8. BitFinex: -$740,219,625

— Nik (@cointradernik) July 20, 2019

On the flip side, crypto exchanges BitMEX and Bitfinex saw negative cash flows in the last 30 days. Both exchanges are facing scrutiny from US regulators.

Much of the outflows on BitMEX happened in the last day, after Bloomberg reported that the Commodities Futures Trading Commission is investigating whether the exchange is allowing Americans to trade on the platform without the agency’s permission.

In late April, the New York’s Attorney General Letitia James accused Bitfinex of covering up a loss of $850 million without alerting customers.

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.