$1,505,416,204 in Bitcoin (BTC) Flows Into Binance Crypto Exchange in Just 30 Days: On-Chain Data
Over $1.5 billion worth of Bitcoin (BTC) has flowed into the world’s largest crypto exchange platform by volume in the last 30 days.
New on-chain data from market intelligence platform Coinglass reveals that Binance currently holds 588,129 Bitcoin at time of writing, 51,386 of which came in just this month.
Coinglass further finds that 22,590 of the BTC came in during the last seven days while nearly 5,000 tokens came in during the last 24 hours.
Other prominent crypto exchange platforms that saw significant BTC movement during the last month include Gemini, OKX, and Coinbase Pro, which saw monthly outflows of 22,416, 3,520, and 1,207 Bitcoin, respectively.
Crypto exchanges that saw upticks in the amount of BTC they hold include Kraken and Gate, which saw 952 and 935 BTC flow into their coffers.
According to Coinglass, 13,888 BTC flowed into crypto exchanges this month overall.
The crypto analytics firm Glassnode also notes that it is becoming increasingly difficult to mine Bitcoin blocks, saying that the number of hashes required to mine one has reached a new all-time high.
“Following the latest Bitcoin difficulty adjustment, the estimated number of hashes required to mine a block has reached an ATH (all-time high) of 209 zettahashes (10^21). Thus, the difficulty to mine a block continues to increase as more hash power is deployed to the network.”
Bitcoin is trading for $29,216 at time of writing, a fractional increase during the last 24 hours.
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The post $1,505,416,204 in Bitcoin (BTC) Flows Into Binance Crypto Exchange in Just 30 Days: On-Chain Data appeared first on The Daily Hodl.
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Author: Mehron Rokhy
