Binance Sees $1.23B Outflows as ETH Withdrawals Surge
Binance experienced a significant increase in weekly net outflows, totaling $1.23 billion during the week beginning June 29, which is a 207% rise from the previous week’s approximately $400 million, according to DefiLlama data. Ethereum withdrawals on Binance also surged to their highest level in over three years, with over 166,000 withdrawal transactions in a single day, according to CryptoQuant analyst Darkfost. The outflows coincided with a modest rebound in ETH prices of about 12.5% over the past week, trading at $1,766. Some analysts suggest that this surge may reflect long-term accumulation behavior amid regulatory uncertainties related to the EU's MiCA regulation, rather than short-term trading. Other major exchanges, such as Finex, Gate, OKX, and Bybit, also reported significant outflows during the same period.
