Bitcoin: 693,000 BTC Are Now Held on Binance

Binance now holds more than 693,000 bitcoins, a level unseen in two years. Since the end of April, its balance has increased by 77,000 BTC, while bitcoin struggles to stay above 80,000 dollars. On the world’s largest crypto platform, these reserves remain potentially available for sale.

In Brief

Binance Reaches a Two-Year High

Data published Thursday by CryptoQuant shows that Binance’s reserves now exceed 693,000 BTC. They represent about 30% of bitcoins held on major crypto platforms, after a 77,000 BTC increase since the end of April.

This increase comes after a particularly active August. Binance then recorded 15.7 billion dollars in net inflows, a record according to Binance Research.

“A new record, the highest in two years“, writes analyst Darkfost. For him, this increase deserves close monitoring.