Amid the U.S. Securities and Exchange Commission’s (SEC) lawsuit against Binance and the SEC’s request to freeze assets belonging to Binance US, the exchange has experienced significant outflows.
As of June 6, 2023, at 9 p.m. ET, Binance has seen $10.30 billion in 24-hour trade volume worldwide. According to statistics recorded by coingecko.com, a significant portion of Binance’s volume comes from BTC/USDT and BTC/TUSD trading pairs.
According to data from cryptoquant.com, Binance has experienced a significant outflow of BTC, ETH, and stablecoins from the platform. The outflow began leaving Binance reserves approximately 68 hours ago on June 3, 2023.
It is likely that BTC will continue to decline when the SEC lawsuit against Binance is not over yet
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