Bitcoin on the move as regulatory uncertainty looms over Binance.
On the other hand, investors have started spreading out their assets away from Binance to lessen the impact of a shut down if it were to happen. As a result, Binance saw a reduction in its total Bitcoin balance while other exchanges reciprocated an increase, as shown below.
Over the last 24 hours, Binance’s Bitcoin balance was reduced by over 3,900 BTC the past week, out of which 3,400 BTC were pulled out in the last 24 hours alone.Competing exchanges, including Coinbase, Bitfinex and Gemini, recorded an increase in BTC reserves during the 24-hour timeframe.It is important to note that Bitcoin balances on crypto exchanges have been on the decline since March 20. Over the last seven days, nearly 27,000 BTC in total were taken off major exchanges combined.
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