ByBit, Crypto.com and OKX’s net asset inflows have also increased by $301.4 million, $107.8 million and $97.7 million over the last 24 hours.
Cryptocurrency exchange Binance benefited massively from the Aug. 5 market crash — recording $1.2 billion in net inflows as traders responded to a sharp fall in cryptocurrency prices.
“This marks one of the highest net inflow days of 2024, indicating strong investor confidence,” Binance’s CEO Richard Teng said in an Aug. 6 X post — citing data from DeFiLlama’s centralized exchange transparency dashboard.
The three main kinds of inflows typically seen on cryptocurrency exchanges are trading activity, transfers from external wallets and fiat deposits used to buy up crypto.
