Binance Posts $1.822 Billion in Daily Net Inflows as Seven-Day Outflows Hold at $11.832 Billion

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Binance Posts $1.822 Billion in Daily Net Inflows as Seven-Day Outflows Hold at $11.832 Billion
PrimeXBT Editorial Team
Reviewed by PrimeXBT

Binance's tracked wallets recorded $1.822 billion in net inflows over 24 hours, but seven-day net outflows still stand at $11.832 billion. The weekly window covers the hack, the withdrawal suspension and the reopening.

Binance's tracked wallets swung to $1.822 billion in net inflows over the trailing 24 hours, according to DefiLlama's exchange dashboard viewed at 4:00:47 a.m. ET on Nov. 3. The reading reverses the daily outflows recorded after the exchange's post-hack withdrawal restart.

The positive daily number still left Binance with $11.832 billion in net outflows over seven days, while DefiLlama tracked $127.699 billion in Binance wallet assets. That weekly window spans the hack and withdrawal suspension as well as the reopening, so it does not measure only customer activity since withdrawals resumed.

What the inflow figure does not show

Earlier readings ran the other way. The Defiant previously reported rolling 24-hour net outflows of $4.54 billion on Nov. 1 and $5.142 billion on Nov. 2. Those figures are snapshots of rolling windows, not calendar-day totals.

Binance said it began restoring withdrawals in phases on Nov. 1 after suspending them following a hack whose impact it estimated at about $6.3 billion. A positive net reading means tracked inflows exceeded outflows. It does not mean withdrawals stopped.

The aggregate also does not identify whether customers who previously withdrew have returned, or why funds arrived. Wallet asset totals alone do not establish whether an exchange holds enough assets to cover its customer liabilities.

Binance publishes reserve-proof update

In a Nov. 2 update, Binance said it had completed the cryptographic proof for a reserve snapshot taken at 8 p.m. ET on Oct. 30, covering 10 tokens. The exchange said holders of those tokens could verify that their balances were backed at least one-to-one.

Binance plans another snapshot covering more tokens on Nov. 4 UTC, followed by an estimated 40 to 50 hours of proof computation.

Source: The Defiant

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