$1,505,416,204 in Bitcoin (BTC) Flows into the Binance Crypto Exchange: On-Chain Data in Just 30 Days
Over $1.5 billion worth of Bitcoin (BTC) has poured into the world’s largest crypto exchange by volume over the past 30 days.
New on-chain data from market research platform Coinglass shows that Binance currently holds 588,129 Bitcoin at the time of writing, of which 51,386 were received just this month.
Coinglass goes on to note that 22,590 of BTC have been received over the past seven days, while nearly 5,000 tokens have been received over the past 24 hours.
Other prominent crypto exchanges that saw significant BTC movement over the past month include Gemini, OKX, and Coinbase Pro, which saw monthly outflows of 22,416, 3,520, and 1,207 bitcoin, respectively.
Crypto exchanges that have seen an increase in the amount of BTC they hold include Kraken and Gate, which saw 952 and 935 BTC pour into their coffers, respectively.
According to Coinglass, a total of 13,888 BTC flowed into crypto exchanges this month.
Crypto analytics firm Glassnode is also noting that blocks of Bitcoin are becoming increasingly difficult to mine, saying the number of hashes required to mine a block has hit a new all-time high.
“After the last 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). Therefore, the difficulty of mining a block continues to increase as more hash power is deployed on the network.”
Source: Glassnode/Twitter
Bitcoin is trading at $29,216 at the time of writing, up marginally over the past 24 hours.
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