coinedition.com
Crypto, DeFi, and NFT analytics platform, Nansen AI shared in a recent tweet that leading cryptocurrency exchange Binance has suffered a loss of assets in the last month. According to the tweet, Binance held crypto worth $69.5 billion which has now dropped to $54.7 billion.
Binance held $69.5B* in crypto over a month ago, and it's at $54.7B now, due to large withdrawals and price fluctuation.
— Nansen 🧭 (@nansen_ai) December 17, 2022
*Based on their publicly disclosed wallets, incl. Bitcoin, Ethereum, BNB Chain, and Tron assets. pic.twitter.com/wZ6nLWqyUf
Apparently, the fall in assets is due to large withdrawals and price fluctuation. The information shared by Nansen is based on Binance’s publicly disclosed wallets, including Bitcoin, Ethereum, BNB Chain, and Tron assets.
Binance’s wallet holdings and transactions can be viewed on the Nansen Portfolio’s Binance dashboard. As per the dashboard, Binance’s public wallet has a net worth of $55,028, 367, 437.75 with zero debt.
The total allocation consists of 27.50% Binance USD (BUSD), 21.44% Tether (USDT), 14.77% Bitcoin (BTC), 9.54% Ethereum (ETH), and 9.50% Binance Coin (BNB) among others.
Moreover, the Twitter thread shared Binance’s top deposits and top withdrawals in the last 30 days, specifically for ETH and ERC20 tokens only. As per the screenshots, Binance’s maximum deposit varied from $4.1 billion to $104 million, while its top withdrawals ranged from $1.7 billion to $149 million.
However, the tweets have not been highly welcomed by the crypto community on Twitter. Replies from users soon started rolling in saying that there is nothing with Binance and that people should quit the FUD since there is “no issue moving things around or out.”
On the other hand, some users are speculating if this is the end for Binance. Due to the ongoing downtrend in the crypto market, people are losing faith in exchanges. Nevertheless, people are hopeful that Binance will survive this and $BNB will also bounce back,