Nansen analysts tracked changes in the exchange’s balance. cryptocurrency The largest centralized and decentralized It published data covering money flows on major crypto exchanges last week.
$5.4B* has been withdrawn (netflow) from exchanges in the past 7 days
A weekly summary
– Exchange deposits & withdrawals
– $ETH balances on exchanges
– Ethereum stablecoin balances*ETH & ERC20 tokens only, from addresses that we have labeled
— Nansen
(@nansen_ai) November 19, 2022
Exchanges where users withdrew more than deposited were seen on Binance, Gemini and FTX, with balances on Binance down $2.3 billion, Gemini at $679 million, while FTX collapsed by $591 million.
In total, as of November 12, 2022, users of the centralized exchange have withdrawn over 1.1 million ETH (ETH), or $1.3 billion in US dollars.
This indicates that users are seriously starting to withdraw money from exchanges. Fearing the collapse of the FTX platform and the associated company Alameda Research
In terms of stablecoin balances, two decentralized exchanges saw previously unseen inflows, with both Curve Finance (CRV) and dYdX (DYDX) becoming safe havens for users looking to escape. Escape from centralized giants
Nansen noted that Curve Finance (CRV) had inflows of $26.5 million, helping the platform become a top 5 crypto service by stablecoin balance, while dYdX (DYDX) had inflows of $26 million in user funds.
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