Binance Draws $15.7 Billion In Assets During Bitcoin Rally

1h ago•

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In a huge industrial financial room, an operator in the foreground struggles to turn a massive valve while several pipes simultaneously pour torrents of capital into a monumental reservoir bearing the geometric symbol of Binance. The reservoir is almost full and begins to overflow under the sheer force of the inflows. A mechanical counter displays only 15.7.

The exchange Binance recorded 15.7 billion dollars in net asset inflows during August. This is a record according to Binance Research. Indeed, the exchange platform attracted more than 75% of the positive flows recorded by the main centralized exchanges. This trend coincides with a monthly increase of over 20% in bitcoin. However, it does not mean that 15.7 billion dollars were automatically used to acquire BTC. Deposits consider various cryptos and correspond to different strategies.

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