Binance, the world’s largest cryptocurrency exchange, has seen a net inflow of $1.2 billion in the last 24 hours, according to DeFiLlama’s CEX Transparency metrics. The figure is way above the inflows its major rivals, including OKX and Bybit, are pulling in.
The large capital influx reflects users’ trust in Binance and their positive outlook on the cryptocurrency market’s future, even with recent volatility, DeFiLlama said.
The massive inflows are also a positive sign for Richard Teng, who took over as CEO following a multibillion-dollar US penalty for illegal activities and the departure of founder Changpeng Zhao.
Richard Teng comments: “This marks one of the highest net inflow days of 2024. Despite facing significant market downturns over the past several hours, this potentially indicates investors’ confidence and interest in buying in at a lower cost when they deem it’s the right timing.”
“The current…
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