The withdrawals spurred by SECGov's lawsuit against binance are massive, however they only reflect a small amount of the exchange's reserves, according to data from CryptoQuant. By thesamreynolds.
shows that outflows from Binance across all protocols hit $719 million over a 24-hour period.Despite the seemingly staggering net outflow, that shows no signs of slowing down, Nansen data also shows that Binance’s stablecoin balance remains healthy. The exchange currently has a stablecoin balance of just over $8 billion, with a seven-day outflow of $519 million, or roughly 6% of holdings.
OKX, the exchange with the next largest holdings, has a balance of $4 billion.that the withdrawals are well within historical norms.In the complaint, the SEC also alleged that a number of other tokens, including Binance’s BNB token, Solana , Cardano , Polygon , Coti and Algorand blockchains , Filecoin network , Cosmos hub , Sandbox platform , Axie infinity and Decentraland are securities.
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