The largest crypto exchange in the world, Binance has experienced the most significant Bitcoin withdrawal in its history, per recent data. The company might face a bank run as crypto investors’ confidence continues to decline following the collapse of trading venue FTX and a U.S. investigation into major crypto exchanges. Related Reading: PancakeSwap (CAKE) Slides Below Range, Is This An Entry Point For Buyers? At the same time, positive economic data from the U.S. is positively impacting the market. Bitcoin is back above its previous yearly lows. As of this writing, BTC’s price trades at $17,750 with a 4% and 5% profit in the last 24 hours and the previous week, respectively. Bitcoin Rally In Danger, Binance Makes A Stand Data from on-chain analytic firm Glassnode, shared by Dylan LeClair, indicates that Binance has seen a massive withdrawal of 40,000 BTC in the last 24 hours. The outflows are almost double those seen in July 2021. At that time, the crypto market was experiencing a second capitulation event after hitting an all-time high north of $60,000. The cryptocurrency lost over 50% of its ..
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