$25.92 Billion Moved in 24 Hours as Binance USDT Reserves Fall
TokenMarketCap reports on 24-hour chain data showing $25.92 billion moved across 1,367 transfers, with Binance USDT reserves falling by $142.7 million.
Over the last 24 hours, our chain scanner recorded 1367 transfers above our reporting threshold, with a massive $25.92 billion moved in total across the network.
How We Measure This
We read the blockchain directly via Ethereum JSON-RPC logs and Bitcoin block data. We only apply labels to publicly known exchange wallets, leaving all other addresses unlabelled, and we monitor and report all transfers that cross our strict reporting threshold.
Understanding Exchange Inflows and Outflows
An exchange inflow occurs when crypto assets are moved from a private or unlabelled wallet into an exchange-controlled wallet, while an outflow represents the reverse movement from an exchange out to an external wallet. Most casual observers mistakenly view an exchange deposit as definitive proof of impending selling, and a withdrawal as proof of long-term accumulation or holding. In practice, traders deposit funds to various destinations for margin collateral, derivatives trading, or quick positioning, while they withdraw funds for custody, decentralized finance participation, or OTC settlement. Therefore, analyzing these flows requires looking at both sides of the ledger rather than jumping to conclusions.
Notable Whale Activity and Reserve Shifts
Among the measured transfers, a significant transaction involved 72.21 million USDC ($72.2 million) on Ethereum moving from an unlabelled wallet to a burn address. Another prominent movement included 50.00 million USDC ($50.0 million) deposited into Coinbase from an unlabelled wallet, alongside various large transfers between unlabelled wallets and exchange withdrawals, such as 39.37 million USDC moving from Coinbase to an unlabelled wallet.
On the exchange reserve front, shifts varied significantly across platforms. Binance USDT reserves fell by 142.80 million USDT ($142.7 million), representing a 0.85% decrease to sit at 16.68 billion USDT. Bitfinex USDT reserves dropped by 22.30 million USDT ($22.3 million), or 14.71% of its balance, and Gate.io USDT reserves decreased by 14.00 million USDT ($14.0 million). Meanwhile, Binance ETH reserves rose by 17,919 ETH ($43.5 million), and Crypto.com USDC reserves fell by 10.62 million USDC ($10.6 million).
- Bitcoin price context: $81,635.40, down 2.24% in 24 hours.
- Total inflows to exchange wallets: $2.42 billion.
- Total outflows from exchange wallets: $2.39 billion.
With $2.42 billion flowing into exchange wallets and $2.39 billion flowing out, market participants continue to actively shift capital. Will subsequent sessions sustain this high volume of exchange-bound transfers, or will outflows begin to dominate the ledger?
Frequently asked questions
What were the total transfer volumes recorded by TokenMarketCap over the last 24 hours?⌄
Our chain scanner recorded 1,367 transfers above our reporting threshold, resulting in $25.92 billion moved in total. Within these figures, $2.42 billion flowed into exchange wallets while $2.39 billion flowed out of exchange wallets.
How did Binance's USDT reserves change during the reporting period?⌄
Binance USDT reserves fell by 142.80 million USDT, equating to $142.7 million or 0.85% of its balance, bringing its holdings to 16.68 billion USDT.
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About this article
Written by the TokenMarketCap on-chain desk from our own measurements. We read the Ethereum and Bitcoin networks directly, label only publicly known exchange wallets, and every figure in the article is checked against what we measured.
This article is for information only and is not investment advice. Do your own research before making any decision.