More or less read this thread: https://bitcointalksearch.org/topic/binance-is-spamming-mempool-5421104
It means that Binance had a ton of coins scattered across a ton of wallets, and have now been consolidating them down into a few known ones.
For people that don't understand it makes them look better. For those that do understand it makes them look weak since they had to move all those coins to prove they did have the funds.
It also makes them look incompetent since they should have been doing this all along when the mempool was empty and fees were low. Now it's costing them more and taking longer to do.
-Dave
Topic: Bitcoin Balances on Exchanges - Sudden rise in the balance of Binance - page 2. (Read 310 times)
November 18, 2022, 08:02:15 AM
November 18, 2022, 07:12:52 AM
Good day everyone,
since the collapse of FTX we had many discussion about people withdrawing their Bitcoin from exchanges. You can check the balances here https://www.coinglass.com/Balance.
We went from 2.1 million BTC all the way down to 1.9 million BTC.
Until yesterday Binance was one of the biggest looser with over 80k BTC withdrawn over the last 30 days. Coinbase was ranked first, but also with massive loses. Nearly all exchanges lost huge amounts, fitting perfectly in the narrative of people withdrawing their bitcoin.
But suddenly in the last 24 hours Binance added and incredible 92,000 Bitcoin to their exchange an amount never seen before on the exchange (according to coinglass, and if you check the last 12 months). I found very little info about that, and all nearly other exchanges are still getting their balance reduces.
Do we have some info about that or any idea whats going on?
since the collapse of FTX we had many discussion about people withdrawing their Bitcoin from exchanges. You can check the balances here https://www.coinglass.com/Balance.
We went from 2.1 million BTC all the way down to 1.9 million BTC.
Until yesterday Binance was one of the biggest looser with over 80k BTC withdrawn over the last 30 days. Coinbase was ranked first, but also with massive loses. Nearly all exchanges lost huge amounts, fitting perfectly in the narrative of people withdrawing their bitcoin.
But suddenly in the last 24 hours Binance added and incredible 92,000 Bitcoin to their exchange an amount never seen before on the exchange (according to coinglass, and if you check the last 12 months). I found very little info about that, and all nearly other exchanges are still getting their balance reduces.
Do we have some info about that or any idea whats going on?
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