$200m of spot BTC re-enters exchanges on Binance as Genesis news filters through

by Derek McKinney | Posted on

Definition

  • Breakdown of the net flow of coins into/out of exchanges by the USD value of the transactions.  

Quick Take

  • $200M of Bitcoin (BTC) went back onto Binance, Jan. 20 — a similar amount to Jan. 13, which took us over $21k.
  • The transfer is primarily institutional, as it is more than $10M.
  • With the news of Genesis on top last night, this is encouraging to see BTC holding above $20k.
  • The substantial transfers are coming from Binance, which is sparking market volatility. 
    Bitcoin: Net Transfer Volume from/to Exchanges Breakdown by Size [USD]: (Source: Glassnode)
    Bitcoin: Net Transfer Volume from/to Exchanges Breakdown by Size [USD]: (Source: Glassnode)

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