{"id":141830,"date":"2023-09-01T20:48:38","date_gmt":"2023-09-01T15:18:38","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=141830"},"modified":"2023-09-01T20:48:38","modified_gmt":"2023-09-01T15:18:38","slug":"binance-witnesses-5000-btc-withdrawn-in-just-60-seconds-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/binance-witnesses-5000-btc-withdrawn-in-just-60-seconds-crypto-news\/","title":{"rendered":"Binance Witnesses 5000 BTC Withdrawn in Just 60 Seconds – Crypto News"},"content":{"rendered":"

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Binance is witnessing a significant withdrawal of Bitcoins with the crypto world unstable. Amid whispers surrounding the platform, investors pulled over 5,000 BTC in just one minute, underlining the sheer magnitude of the issue. Significantly, Changpeng Zhao, Binance\u2019s CEO, labels this incident as mere \u2018fear, uncertainty, and doubt\u2019 tactics.<\/span><\/p>\n

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\ud83d\udea8 \ud83d\udea8 \ud83d\udea8 \ud83d\udea8 \ud83d\udea8 4,000 #BTC<\/a> (106,039,171 USD) transferred from #Bitfinex<\/a> to unknown wallethttps:\/\/t.co\/982bCEb4SO<\/a><\/p>\n

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\u2014 Whale Alert (@whale_alert) August 24, 2023<\/a><\/p>\n<\/blockquote>\n

However, besides the one-minute wonder, a six-day streak from August 17 showed <\/span>Bitcoin outflows<\/span><\/a> dominating the Binance exchange. Hence, by August 22, 14,460 BTC found their way out of Binance\u2019s reserves.<\/span><\/p>\n

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Moreover, Binance is one of many platforms seeing such massive withdrawals. Glassnode\u2019s recent insights highlighted a 5-year low for BTC balances across all major exchanges.\u00a0<\/span><\/p>\n

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\u00a0BTC Balance on Exchages (Source: glassnode)<\/em><\/p>\n

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Consequently, fewer than 2.27 million BTC remain in known exchange wallets. Additionally, these shifts point to \u2018HODLers\u2019 preferring the safety of private wallets, indicating a potential reluctance to sell their holdings in the immediate future.<\/span><\/p>\n

Fee Overhaul at Binance\u00a0<\/b><\/h2>\n

Additionally, with Binance\u2019s pivot from a zero-fee <\/span>Bitcoin<\/span><\/a> trading model starting September 7, the dynamics of its BTC\/TUSD trading pair will undergo a significant transformation. The days of enjoying zero-maker and taker fees are ending. Moreover, while the maker fees will hold zero status, taker fees will now hinge on the user\u2019s VIP level.<\/span><\/p>\n

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#Binance<\/a> will update the zero-fee Bitcoin trading program effective from September 7, at 00:00 UTC.https:\/\/t.co\/nlHvZU4ZJ0<\/a><\/p>\n

\u2014 Binance (@binance) August 24, 2023<\/a><\/p>\n<\/blockquote>\n

With <\/span>Binance phasing<\/span><\/a> out BUSD support in favor of TUSD, a noticeable drop in Tether (USDT) volumes came to the fore. Many seasoned traders and crypto enthusiasts see this as a pivotal moment with far-reaching market implications. Consequently, as this new crypto phase looms, all eyes remain on Binance\u2019s subsequent moves and the overarching market aftermath.<\/span><\/p>\n

The crypto sphere is experiencing some noteworthy shifts. The landscape is evolving with changes in trading fee structures and substantial BTC withdrawals. As these events unfold, market players and enthusiasts will watch closely, anticipating the next significant turn.<\/span><\/p>\n

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Kelvin is a distinguished writer specializing in crypto and finance, backed by a Bachelor’s in Actuarial Science. Recognized for incisive analysis and insightful content, he has an adept command of English and excels at thorough research and timely delivery. <\/p>\n<\/p><\/div>\n

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

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Binance is witnessing a significant withdrawal of Bitcoins with the crypto world unstable. Amid whispers surrounding the platform, investors pulled over 5,000 BTC in just one minute, underlining the sheer magnitude of the issue. Significantly, Changpeng Zhao, Binance\u2019s CEO, labels this incident as mere \u2018fear, uncertainty, and doubt\u2019 tactics. \ud83d\udea8 \ud83d\udea8 \ud83d\udea8 \ud83d\udea8 \ud83d\udea8 4,000 […]<\/p>\n","protected":false},"author":2,"featured_media":60003,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[192,29,198,194,195,199,196,193,197,200],"class_list":["post-141830","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-blockchain-business","tag-business","tag-coins","tag-crypto-business","tag-cryptocurrency-business","tag-fiat","tag-metaverse-business","tag-nft-business","tag-token","tag-token-business"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/141830","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=141830"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/141830\/revisions"}],"predecessor-version":[{"id":146837,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/141830\/revisions\/146837"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/60003"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=141830"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=141830"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=141830"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}