Binance Records $3.97 Billion Net Inflow Following Bybit Hack, DefiLlama Data Shows
Binance has seen a weekly net inflow of $3.971 billion, significantly outpacing the combined inflows of nine other major cryptocurrency exchanges, which totaled $396.83 million, according to DefiLlama data. This development follows the recent Bybit security breach, which led to heightened capital movement across exchanges.Short-Term Impact: Capital Shifts Following Security ConcernsMarket Response to Bybit Hack: A notable shift in funds occurred after the Bybit exploit, with a large portion of market liquidity moving to Binance.Comparative Inflows: Binance recorded 10 times the inflows of the other nine leading exchanges combined, reflecting a concentration of capital into a single trading platform.Long-Term Trends: Binance Maintains Large Share of Capital FlowsFebruary 2025 Data:Binance’s net inflows reached $5.323 billion for the month.The remaining nine exchanges, excluding Bybit, saw a combined total of $1.229 billion in inflows.Annual Capital Flow Patterns:Binance has seen net inflows exceed $3 billion in six different months over the past year.November 2024 marked the highest net inflow, reaching $9.2946 billion, according to DefiLlama.