skip to Main Content
bitcoin
Bitcoin (BTC) $ 95,043.46 0.94%
ethereum
Ethereum (ETH) $ 1,823.03 2.66%
tether
Tether (USDT) $ 1.00 0.02%
xrp
XRP (XRP) $ 2.29 0.48%
bnb
BNB (BNB) $ 602.41 0.34%
solana
Solana (SOL) $ 148.24 0.96%
usd-coin
USDC (USDC) $ 1.00 0.01%
dogecoin
Dogecoin (DOGE) $ 0.179139 1.42%
cardano
Cardano (ADA) $ 0.713988 2.58%
tron
TRON (TRX) $ 0.245912 0.38%

Binance sees $778M net outflows on Ethereum blockchain amid SEC charges: Nansen

The SEC lawsuit against Binance led to an outflow of over $700 million worth of assets on Ethereum in the past 24 hours with outflows from the exchange still dominating inflows.

264 Total views

1 Total shares

Binance sees $778M net outflows on Ethereum blockchain amid SEC charges: Nansen

The SEC lawsuit against Binance on June 5, accusing the crypto exchange of violating various securities laws, had a direct impact on the crypto market as well as the balance sheet of the crypto exchange.

According to data shared by crypto analytic firm Nansen, Binance saw a negative netflow of $778 million on the Ethereum blockchain, where $871 million worth of assets inflowed onto the exchange while $1.6 billion worth of assets went out of the exchange.

Even in the first 24 hours following the SEC lawsuit, Ethereum-based tokens have seen a negative netflow, where in the past hour, $14.8 million worth of assets flowed in, and $50.5 million worth of assets went out of the exchange.

Binance netflow on Ethereum. Source: Nansen

Binance’s reserve assets had a net outflow of approximately $1.4 billion within the first hour of SEC lawsuit news, accounting for 2.6% of its total reserve assets of $52.9 billion.

This is a developing story, and further information will be added as it becomes available.

Loading data ...
Comparison
View chart compare
View table compare
Back To Top