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Binance CEO Richard Teng shared important information about the stock market today after tweeting that he thought the market declines experienced yesterday would not be long-term. Teng stated that they saw a net inflow of $ 1.2 billion yesterday alone and said, “It was one of the biggest inflows we have seen since the beginning of the year.”
Market Inflows Increased After Black Monday
Binance CEO Richard Teng emphasized that they saw one of the biggest inflows they have seen since the beginning of the year on the stock market. Stating that there were signs of recovery in the markets, Teng shared the following details:
“During the macroeconomic market crisis experienced yesterday, the leading cryptocurrency exchange saw a net inflow of $ 1.2 billion. This figure was one of the biggest inflows of 2024. This clearly shows investor confidence. In terms of transaction volume, we also saw one of the biggest figures since the beginning of the year yesterday. We also started to see some returns in important tokens. The current market trend confirms this to us.”
After Binance, Bybit is in second place with $276 million in inflows, and Bitfinex is in third place with $100 million. This data shows that Binance is a platform that investors trust even in times of crisis.
Teng’s statements reveal that Binance maintains investor confidence even in times of crisis and plays an important role in market recoveries.