As reported by Cointelegraph, over the last few weeks crypto assets are being drained out from centralised exchanges. Changpeng Zhao, CEO, Binance, is expected to disagree with this statement.
Sources revealed that analytics platforms such as Nansen and DefiLlama, among others, have gone through each and every transaction a week after the Securities and Exchange Commission filed charges against Binance, Cointelegraph added.
“According to our data, last 24hrs,@Binance net outflow is about $392 million. Our wallet addresses are public. Some 3rd party analytics measure change in AUM (asset under management) in USD equivalent as outflow. This would include crypto price drops (which decrease AUM) as “outflow”. They are 2 different things,” Changpeng tweeted.
“Some even only measure outflow, not inflows. On a sharp price movement day like today, many arbitrage traders move a lot of funds between exchanges, usually exponentially more than on normal days,” Changpeng Zao told Cointelegraph.
(With insights from Cointelegraph)
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