Binance CEO Says Yesterday Was the ‘Highest Net Inflow Days of 2024’

The past few days in crypto markets have been highly volatile, with substantial trading activity occurring amid the fluctuations.

Crypto trade volume on Aug. 5 surpassed $200 billion, and current 24-hour statistics show around $148.26 billion in volume has been finalized the following day.

Binance, the leading crypto exchange by trading volume, experienced inflows of $1.2 billion over the past day. Binance CEO Richard Teng noted that this “marks one of the highest net inflow days of 2024.”

The past few days in crypto markets have been volatile, with substantial trading activity occurring amid the fluctuations.

According to exchange reserve data from cryptoquant.com, reserves, despite being at a record low, have risen from Aug. 3 to the present.

Deffilama.com’s centralized exchange transparency metrics reveal that Binance recorded $1.234 billion in 24-hour inflows.

As the leading global crypto exchange by trade volume and reserves, Binance currently holds $102 billion in crypto assets, according to data from Arkham Intelligence.

Of this, $37.49 billion is comprised of bitcoin (BTC), $25.31 billion in tether (USDT), and $11.43 billion in ethereum (ETH).

Binance CEO Teng remarked that the inflows observed over the past day were among the largest this year.

“This marks one of the highest net inflow days of 2024,” Teng said in a note sent to Bitcoin.com News. “Despite facing significant market downturns over the past several hours, this potentially indicates investors’ confidence and interest in buying in at a lower cost when they deem it’s the right timing. The current market trends also validate this observation, as we are witnessing a rebound in the prices of major tokens. According to our internal data, yesterday also was one of the highest trading volume days in 2024.”

What do you think about Binance recording $1.2 billion in net inflows over the past day? Let us know what you think about this subject in the comments section below.

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