BUSD leaving exchanges fall to $40M from December’s $3B

The amount of Binance USD (BUSD) leaving exchanges fell to $40 million from over $3 billion recorded in December 2022, according to Glassnode data analyzed by CryptoSlate.

The chart below represents the daily BUSD withdrawn from and deposited into crypto exchanges since mid-November 2022.

BUSD net transfer volume from/to exchanges (Source: Glassnode)
BUSD net transfer volume from/to exchanges (Source: Glassnode)

On Feb. 13, around $40 million BUSD tokens were withdrawn from the exchanges. On Dec. 13, 2022, this number was over $3 billion. This change marks a -98.6% decrease in the amount of withdrawn BUSD in 62 days.

The crypto market witnessed a massive BUSD outflow from exchanges at the end of 2022. According to CryptoSlate analyses, the amount of withdrawn BUSD reached $6 billion between Nov. 19 and Dec. 19, 2022. Another analysis revealed that $6.2 billion worth of BUSD left the exchanges between Dec. 3, 2022 and Jan. 3, 2023.

The post BUSD leaving exchanges fall to $40M from December’s $3B appeared first on CryptoSlate.

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