Bitcoin

Binance, the world’s largest cryptocurrency exchange, saw a net inflow of $1.2 billion in just 24 hours following massive sell-offs due to Monday’s market crash. This inflow is the highest recorded in a single day this year, according to Binance CEO Richard Teng.Richard Teng, CEO of Binance, cited data from Defi Llama showing the large inflows on the exchange, attributing this to growing investor confidence. He shared this observation with his over 300,000 followers on his X page.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/04ff65087843476c94c087e19b2b6b71.png" /><h3 id="binance-records-significant-net-inflow-amid-market-downturn">Binance Records Significant Net Inflow Amid Market Downturn</h3><a href="https://cryptosheadlines.com/jpmorgan-analysts-foresee-stable-crypto-market-amid-downturns/" rel="noopener noreferrer nofollow">Amid the macroeconomic climate and yesterday’s market downturn</a>, Binance recorded a net inflow of $1.2 billion in the past 24 hours, according to Defi Llama’s CEX Transparency metrics. This marks one of the highest net inflow days of 2024, indicating <a href="https://cryptosheadlines.com/cardano-price-poised-to-soar-amid-strong-investor-confidence-in-ada/" rel="noopener noreferrer nofollow">strong investor confidence</a>.Yesterday also saw one of the highest trading volumes on Binance year-to-date. <a href="https://cryptosheadlines.com/major-transfer-of-pepe-tokens-spurs-market-activity-and-price-surge/" rel="noopener noreferrer nofollow">Major token prices</a> are now rebounding, with current market trends validating this positive shift.Since the market crash, Bitcoin and Ethereum have recovered significantly, trading at $55,131 and $2,460 respectively.<h3 id="bitget-s-anton-toroptsev-predicts-bitcoin-could-reach-60-000-this-week">Bitget’s Anton Toroptsev Predicts Bitcoin Could Reach $60,000 This Week</h3>Anton Toroptsev, the CIS Region Marketing Director at Bitget, has forecasted that Bitcoin might surge back to $60,000 before the end of the week.Toroptsev stated that BTC prices could return to $58,000 by the middle of the week. He further predicted that by the end of the week, Bitcoin could reach or surpass the $60,000 mark.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/04ff65087843476c94c087e19b2b6b71.png" /><h3 id="binance-sees-1-2b-inflow-robinhood-halts-overnight-trading">Binance Sees $1.2B Inflow; Robinhood Halts Overnight Trading</h3>Binance, the world’s largest cryptocurrency exchange, experienced a significant net inflow of $1.2 billion following the trading frenzy triggered by Monday’s market crash.The intense market activity led to some trading platforms struggling to handle the traffic. Brokerage firm Robinhood announced a temporary suspension of its overnight trading services due to execution issues.<a href="https://cryptosheadlines.com/worldcoin-expands-to-austria-with-world-id-verifications/" rel="noopener noreferrer nofollow">Also Read: Worldcoin Expands to Austria with World ID Verifications</a>Robinhood tweeted: “Robinhood 24 Hour Market’s execution venue, Blue Ocean ATS (BOATs), has suspended overnight trading for tonight. 24-Hour Market orders that are open as of approximately 8 PM ET will be routed for execution starting at approximately 4 AM ET tomorrow. You may cancel your order at any time and can still place an order for another trading session.” Robinhood, a US-based brokerage firm, supports the trading of various crypto assets.<h3 id="in-summary">In Summary</h3>The recent market crash prompted a significant influx of over $1.2 billion into Binance, driven by a widespread selling frenzy. This crash was influenced by a mix of crypto-related issues and broader macroeconomic factors. Additionally, the uncertainty surrounding the upcoming US <a href="https://cryptosheadlines.com/bitcoins-importance-in-us-presidential-elections-after-grayscales-win/" rel="noopener noreferrer nofollow">presidential elections</a> contributed to the turmoil. Crypto asset holders, concerned about potential changes in the regulatory landscape, sought to withdraw their assets in anticipation of an unpredictable future for the industry in the United States.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/51e3f0776df94d0e94e3335c0768c8ad.png" />Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.Join Cryptos Headlines <a href="https://linktr.ee/cryptosheadlines.com" rel="noopener noreferrer nofollow">Community</a>Follow Cryptos Headlines on <a href="https://news.google.com/publications/CAAqBwgKMLz3-wowvuzoAg" rel="noopener noreferrer nofollow">Google News</a>Join our official TG Channel: <a href="https://t.me/CryptosHeadlines" rel="noopener noreferrer nofollow">https://t.me/CryptosHeadlines</a>

Binance Sees $1.2 Billion Net Inflow in 24 Hours Amid Market Crash

Table of Contents

cmcdelete@edb8d1ee4ec9a85c04690131b307c085

Other articles published on Aug 7, 2024

Pepe Price Prediction: PEPE Price To Increase by 1000%?

Hong Kong Police Arrest Four, Including 14-Year-Old, for Counterfeit Crypto Scam

Investors Amass Bitcoin Worth Billions

NEIRO Price Hits a New ATH, Up by 30% Today

$2 Billion Ethereum In Move: Are Chinese Seized Assets About to Crash the Market?

An Interview With Arithmic

Join our free newsletter for daily crypto updates!