Binance Records a Net Inflow of $1.2B in Past 24 Hours According to the CEO, yesterday was one of the highest trading volume days in 2024 for Binance
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
The largest cryptocurrency exchange by volume, Binance, recorded a net inflow of USD 1.2 billion in the last 24 hours.
According to the data from DeFiLlama, Binance saw a 24-hour inflow of USD 9.95 million, taking the total assets to USD 99.533 billion.
"This marks one of the highest net inflow days of 2024. 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," said Richard Teng, CEO, Binance.
Source- DeFiLlama
According to Teng, yesterday also was one of the highest trading volume days in 2024 for Binance.
Meanwhile, Bitfinex and Bybit saw a net inflow of USD 151.87 million and 145.15 million, respectively.
In the Indian market, the crypto player was issued a show cause notice demanding Goods and Services Tax (GST) payment of INR 722 crore.
