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CryptoQuant.com Profile picture
@cryptoquant_com
Jun 6 • 5 tweets • 4 min read Twitter logo Read on Twitter
Binance Exchange On-Chain Analysis in the Context of CFTC-SEC-Binance Lawsuit Cases

On a nominal basis, Binance has experienced large net outflows of Bitcoin and Ethereum after today's SEC lawsuit announcement.

Details on the thread🧵
1/4
 These net outflows are more significant than when the CFTC sued the exchange in March 2023. However, net outflows so far are smaller than what the exchange has experienced in other periods of "stress" (or regulatory FUD).
$BTC, $ETH, $Stablecoins ImageImageImage
2/4
 Moreover, these net outflows are small relative to the level of reserves in the exchange.
In the case of stablecoins(ERC20), reserves at Binance have been decreasing significantly, from $24.5B in Dec. 2022 to $8.2B. This has been mostly the result of a decrease in $BUSD. ImageImageImageImage
3/4
 The total amount of user transactions to withdraw funds (#Bitcoin, #Ethereum, and #Stablecoins) has spiked after the SEC lawsuit announcement, but they are still within historical normal levels. ImageImageImage
4/4
 To follow the above and real-time data updates related to @binance, visit our Binance Exchange Analysis Dashboard created by @jjcmoreno

Real-time Dashboard👇
cryptoquant.com/analytics/dash…

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More from @cryptoquant_com

CryptoQuant.com Profile picture
Mar 30
Binance Exchange's Health After the CFTC Lawsuit

CQ's research team assessed the behavior of Binance net-outflows and reserves of $BTC, $ETH, and Stablecoins in three recent stress-test periods.
- Regulatory FUD after FTX Collapse
- Paxos' announcement
- CFTC lawsuit

Thread🧵
1/ #Bitcoin

Regulatory FUD
A netflow of -40,353 BTC in a day and total netflows of -78,744 BTC in a week.

Paxos' announcement
The largest daily netflow was on Feb 12th for -5,027 BTC.

CFTC lawsuit
A daily netflow of -4,505 BTC.

They have remained inside historical ranges.
2/ #Ethereum

Regulatory FUD
The highest daily netflow was -278k ETH.

Paxos' announcement
The daily netflow was -79,706 ETH

CFTC lawsuit
A daily netflow of -76,146 ETH

They have remained inside historical ranges.
Read 7 tweets
CryptoQuant.com Profile picture
Mar 29
2 Reasons Why BTC's Recent Rally Abated

1- Short-term holders
2- Whales

🧵👇
Recently, the price of Bitcoin increased from ~$24K to ~$28K, but now the pace of the price rally has halted.

In fact, it fell from a nine-month high of $28.8k to $26.9k in the last week. Image
This is primarily for two reasons.

1- Short-term holders decided to sell it and take some profit or exist the position at their realized price (average cost basis). Image
Read 7 tweets
CryptoQuant.com Profile picture
Mar 27
1/ 📢 Calling all sql engineers and on-chain analysts!
🚨 We're excited to announce that our new product is almost ready for launch, but before we release it to the world, we need your help to ensure it's the best it can be. ImageImageImageImage
2/ 👉 Are you interested in being one of our beta testers? If so, we'd love to have you on board! With 'Factory', you can create your data set without learning to use coding skills and visualize it in a way that's most comfortable for you to analyze.
3/ 📲 As a beta tester, you'll have early access to our product and the opportunity to shape its development. We'll ask you to complete specific tasks and give us your feedback, which will help us improve before the product is released.
Read 4 tweets
CryptoQuant.com Profile picture
Jan 6
#Gemini Exchange on-chain analysis in the context of Genesis-
@Gemini Liquidity Issues 🧵👇
From an on-chain perspective, Gemini has been experiencing declining exchange activity:

1- Cryptocurrency reserves (BTC, ETH, and stablecoins reserves are at multi-year lows),
2- BTC deposits from other exchanges into Gemini (a sign of users avoiding sending their money to Gemini)
Read 8 tweets
CryptoQuant.com Profile picture
Jan 5
1/4
 What do on-chain metrics show us about whale behaviors starting in 2023?

Whales have practically stopped selling their coins since early December. This puts less downward pressure on the price.
2/4
 However, we have yet to observe whales accumulating coins in any significant way.

The entire amount of whale ownership is still 10% below the peak it attained in June 2022.

For prices to rebound and surge, there has to be an increase in whale holdings.
3/4
 Check out our Bitcoin Holding Behavior Dashboard if you want to keep track of metrics about whale activity and other valuation metrics:

cryptoquant.com/dashboard/638e…
Read 5 tweets
CryptoQuant.com Profile picture
Jan 4
📑Weekly Fud Buster Dashboard
- Pi is open for trade in @HuobiGlobal
- Ongoing noises with @FTX_Official and @SBF_FTX
- @cameron 's open letter to @BarrySilbert
- @BlackRock loaned to @Core_Scientific

Here's the wrap-up of the latest Crypto Issues.🧵
cryptoquant.com/dashboard/63b2…
/1 @PiCoreTeam is now open for trade in the #Huobi.

What can be the reasons behind Huobi listing $Pi in their service?
- To increase Huobi's Stablecoins Reserve
- To generate more revenue from trading fees

What are the potential dangers?

Link👇
cryptoquant.com/dashboard/63b2… Image
/2 Altcoin dump risk by #FTX, and #Alameda research.

- Bahamas regulators have taken custody of $3.5B in FTX customer assets.
- Alameda Research made many transactions for converting altcoins into $ETH / $USDT.

Live Dashboard👇
cryptoquant.com/dashboard/63b2… Image
Read 5 tweets

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