#decembers

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BUSD leaving exchanges fall to $40M from December's $3B

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The amount of Binance USD (BUSD) leaving exchanges fell to $40 million from over $3 billion recorded in December 2022, according to Glassnode data analyzed by CryptoSlate.

The chart below represents the daily BUSD withdrawn from and deposited into crypto exchanges since mid-November 2022.

BUSD net transfer volume from/to exchanges (Source: Glassnode)

On Feb. 13, around $40 million BUSD tokens were withdrawn from the exchanges. On Dec. 13, 2022, this number was over $3 billion. This change marks a -98.6% decrease in the amount of withdrawn BUSD in 62 days.

The crypto market witnessed a massive BUSD outflow from exchanges at the end of 2022. According to CryptoSlate analyses, the amount of withdrawn BUSD reached $6 billion between Nov. 19 and Dec. 19, 2022. Another analysis revealed that $6.2 billion worth of BUSD left the exchanges between Dec. 3, 2022 and Jan. 3, 2023.

Journalist at CryptoSlate

Zeynep is an academic who turned to crypto in 2018. Originating in social sciences, she is especially interested in the social impact of blockchain and cryptocurrencies and strongly believes in their transmuting power.

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