CryptoQuant: Binance BTC reserves decreased by 5,000, Coinbase BTC reserves increased by 12,000

ChainCatcher news, according to on-chain data tracked by CryptoQuant, Bitcoin is flowing from Binance to Coinbase. Since yesterday, Coinbase's reserves have increased by about 12,000 BTC, while Binance's reserves have decreased by 5,000 BTC. CryptoQuant's Web3 analyst Bradley Park stated that the decrease in Bitcoin reserves on Binance seems to be due to retail fund outflows.

In response, Greta Yuan, research director at the digital asset platform VDX, said that the market remains tense about the recent legal implications for Binance. In the short term, we will see more users transferring funds to compliant or licensed exchanges. Crypto service provider Matrixport wrote, "With this plea agreement, expectations for a spot Bitcoin ETF may rise to 100%, as the industry will be forced to comply with the rules that TradFi companies must follow."