Binance Sees Deposits Of 101,266 Bitcoin As BTC Price Crumble
— Sees, Btc, Pressure, Writing, Tokens, Deposits, Crypto, Worth, Users, Bitcoin, Increased, Binance, Crumble, Wallet, Price — 1 min read
The balance of Binance’s cold wallet rose by about 101,266 bitcoins on Sunday, reflecting increased deposits by users onto the exchange. The move comes amid increased selling pressure on Bitcoin, as prices slumped to their lowest level since late-2020. At the time of writing, Bitcoin has marked an increase in its trading volume by almost 35% in the last 24 hours, with $44.4 billion worth of tokens moved. Increased exchange inflows have been a recurring trend through this crash, as more traders cash in their crypto holdings for fiat. On Monday, Bitcoin recovered slightly on Monday, briefly trading above $20,000 as some of the selling pressure over the weekend eased. The factors that have driven the crash- rising inflation and Source