{"id":15877,"date":"2024-08-06T16:57:16","date_gmt":"2024-08-06T13:57:16","guid":{"rendered":"https:\/\/forklog.com\/en\/binance-records-1-2-billion-net-inflow-amid-market-correction\/"},"modified":"2024-08-06T16:57:16","modified_gmt":"2024-08-06T13:57:16","slug":"binance-records-1-2-billion-net-inflow-amid-market-correction","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/binance-records-1-2-billion-net-inflow-amid-market-correction\/","title":{"rendered":"Binance Records $1.2 Billion Net Inflow Amid Market Correction"},"content":{"rendered":"<p>Amid a shaky macroeconomic environment and a market downturn, cryptocurrency exchange Binance reported a net daily inflow of $1.2 billion. This was announced by the platform&#8217;s CEO, Richard Teng.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Amid the macroeconomic climate and yesterday&#8217;s market downturn, <a href=\"https:\/\/twitter.com\/hashtag\/Binance?src=hash&#038;ref_src=twsrc%5Etfw\">#Binance<\/a> recorded a net inflow of US$1.2 billion in the past 24 hours, according to <a href=\"https:\/\/twitter.com\/DefiLlama?ref_src=twsrc%5Etfw\">@DefiLlama<\/a>&#8216;s CEX Transparency metrics.<\/p>\n<p>This marks one of the highest net inflow days of 2024, indicating strong investor\u2026<\/p>\n<p>\u2014 Richard Teng (@_RichardTeng) <a href=\"https:\/\/twitter.com\/_RichardTeng\/status\/1820792517069332991?ref_src=twsrc%5Etfw\">August 6, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThis is one of the highest net inflow figures in 2024, indicating strong investor confidence,\u201d he noted.\u00a0<\/p>\n<\/blockquote>\n<p>CEO Binance referred to data from <a href=\"https:\/\/defillama.com\/cex\/binance-cex\">DeFi Llama<\/a>, which showed that the volume of <span data-descr=\"metric excluding platform funds like proprietary tokens\" class=\"old_tooltip\">\u201cclean\u201d<\/span> assets on the platform reached $86.55 billion. The total <span data-descr=\"total value locked\" class=\"old_tooltip\">TVL<\/span> of the exchange exceeded $100 billion.\u00a0<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-qw.googleusercontent.com\/docsz\/AD_4nXelEz09TAx5cv9hR9blLJWS0aF-8f2FKZg-xZKwwHtFCLXdc0K4b7JlXuMuvv18cKCa3kTpllug75yWeguyPGTDVJMzD8afL31lHG64Im6j1fqFDpBA7DzDbL8s6CFBd4NLiBUNLGo4RuSuydFc_mTW8hs?key=ljnAgkOLxq2YDylDM9iksw\" alt=\"Binance Records $1.2 Billion Net Inflow Amid Market Correction\"\/><figcaption class=\"wp-element-caption\">TVL and inflows of Binance. Data: DeFi Llama.\u00a0\u00a0<\/figcaption><\/figure>\n<p>According to Teng, August 5 saw one of the highest trading volumes on the platform since the beginning of the year. At the time of writing, the figure stands at $32.2 billion for the spot market and $13.4 billion for the derivatives market.\u00a0<\/p>\n<div class=\"wp-block-text-wrappers-update-2 article_update\"><time class=\"gtb_text-wrappers_update_time\">August 6, 2024 | 17:53<\/time><span class=\"gtb_text-wrappers_update_head\">Update: <\/span><\/p>\n<p>CEO of CryptoQuant, Ki Young Ju, noted that Binance&#8217;s net inflow reached a year-to-date high. However, he stated that the inflows were not from retail investors. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Binance netflows, including <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a>, hit a YTD high.<\/p>\n<p>Most crypto-native institutions, like Jump Trading, are using Binance. Inflows were not from retail investors.<\/p>\n<p>They might be de-risking or adding collateral for long positions\u2014hopefully the latter, but likely the former. <a href=\"https:\/\/t.co\/DyjedfTQkN\">https:\/\/t.co\/DyjedfTQkN<\/a> <a href=\"https:\/\/t.co\/n6GOiKfFwI\">pic.twitter.com\/n6GOiKfFwI<\/a><\/p>\n<p>\u2014 Ki Young Ju (@ki_young_ju) <a href=\"https:\/\/twitter.com\/ki_young_ju\/status\/1820828084762747288?ref_src=twsrc%5Etfw\">August 6, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cMost crypto institutions like Jump Trading use Binance. [\u2026] They are likely de-risking or adding collateral for long positions\u2014hopefully the latter, but likely the former,\u201d he noted. <\/p>\n<\/blockquote>\n<\/div>\n<p>The top manager added that there is currently a \u201crecovery in the prices of major tokens, and current market trends confirm this.\u201d\u00a0<\/p>\n<p>At the time of writing, Bitcoin is trading at $55,000, having <a href=\"https:\/\/www.coingecko.com\/en\/coins\/bitcoin\">gained 5.6%<\/a> in the past 24 hours. Ethereum also <a href=\"https:\/\/www.coingecko.com\/en\/coins\/ethereum\">rose by 6.5%<\/a> to $2450.\u00a0<\/p>\n<p>Earlier, on the day of the correction, the lending platform Aave earned $6 million from liquidations.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Amid a shaky macroeconomic environment and a market downturn, cryptocurrency exchange Binance reported a net daily inflow of $1.2 billion. This was announced by the platform&#8217;s CEO, Richard Teng.\u00a0 Amid the macroeconomic climate and yesterday&#8217;s market downturn, #Binance recorded a net inflow of US$1.2 billion in the past 24 hours, according to @DefiLlama&#8216;s CEX Transparency [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":15876,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[744,1166,1453],"class_list":["post-15877","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-binance","tag-centralized-exchanges-cex","tag-richard-teng"],"aioseo_notices":[],"amp_enabled":true,"views":"22","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/15877","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=15877"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/15877\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/15876"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=15877"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=15877"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=15877"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}