Centralized Exchanges Record Significant BTC and ETH Net Outflows, Led by Binance

Centralized Exchanges Record Significant BTC and ETH Net Outflows, Led by Binance

According to Coinglass, centralized exchanges saw notable withdrawals in both Bitcoin and Ether on November 26, with Binance recording the largest outflows for each asset.

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Fact Check
The assessment is based on the extremely high relevance and authority of the primary sources available to verify the statement. The statement makes a specific, quantitative claim about on-chain Ethereum movements related to exchanges. Sources like Dune, Santiment, and CryptoQuant are high-authority platforms designed for precisely this type of analysis. They are primary sources that provide the raw on-chain data and tools necessary to directly query and confirm both parts of the statement: 1) whether there was a collective net outflow of Ethereum from exchanges during a specific period, and 2) the individual withdrawal volumes for each exchange, including Coinbase Pro, during that same period. The existence of these powerful, publicly accessible tools makes it highly probable that the statement is a factual observation derived from such an analysis.Furthermore, sources from CME Group and EPFR, while not providing the raw data themselves, confirm that tracking cryptocurrency exchange flows is a standard and important practice within the financial industry. This lends credibility to the type of data being discussed and the analyses based upon it.The remaining sources are correctly identified as irrelevant. They pertain to ETFs, stock prices, or general investment commentary and offer no information about on-chain cryptocurrency movements from exchanges. There is no conflicting evidence among the provided sources. The conclusion is not that the sources contain a report confirming the statement, but that the most relevant sources are the definitive primary data providers that would be used to generate such a statement. The specificity of the claim strongly suggests it originates from a data-driven analysis, and the tools to perform this analysis are present in the provided sources. Therefore, the statement is very likely to be true.
Summary

On November 26, Coinglass data showed centralized exchanges posting net withdrawals of 5,032.50 BTC and 2,416.40 ETH within 24 hours. Binance led in both categories with 4,436.29 BTC and 15,900 ETH outflows. For Bitcoin, Bybit and OKX followed with 1,168.44 BTC and 533.24 BTC withdrawn, respectively, while Bitfinex recorded the largest BTC inflow at 1,795.32 BTC. In Ether, Gemini saw the second-largest outflow at 5,499.87 ETH, followed by Gate with 1,747.88 ETH, while OKX led ETH inflows at 5,884.87 ETH.

Terms & Concepts
  • BTC: Abbreviation for Bitcoin, the first and largest decentralized cryptocurrency by market capitalization.
  • ETH: Abbreviation for Ether, the native cryptocurrency of the Ethereum blockchain network.
  • Net outflow: The amount of assets withdrawn from a platform exceeding the amount deposited over a specific period.