As the Bitcoin market enters the institutional ageāwith daily realized PnL regularly in the billionsāone name consistently emerges as the cornerstone of trust and liquidity: Binance.
š Key Insights from On-Chain PnL Analysis:
š From Zero to Market Backbone
In 2017, Binanceās realized PnL footprint was almost nonexistent. Fast forward to 2025, and Binance now consistently processes 20ā40% of all realized PnL on CEXs, spiking above 70ā85% during market stress.
š Flight to Quality in Crisis
During the 2018 bear capitulation and 2022ās systemic collapses (Terra, Celsius, FTX), Binance became the exit of choice, processing:
š Nov 18, 2018: 86.6% of total PnL
š Jun 4, 2022: 72.8% at Celsius peak panic
š§ Institutional-Grade Liquidity
š On July 25, 2025, a āSatoshi-eraā whale offloaded 80,000 BTC (~$9B).
ā”ļø Binance absorbed $2.13B in realized PnLā31.7% of the global totalāwithout breaking.
š Price dipped ~2.5%, but never collapsed. The market signal repeatedly flashed āContrarian Buy,ā indicating deep passive liquidity absorbing every wave of selling.
āļø The GENIUS Act Aftershock
š On July 17, 2025, post-stablecoin regulation euphoria, BTC hit all-time PnL volume:
š§Ø $10.42B realized profit
š Binance handled $1.3B (12.5%) of it
This was a strategic institutional de-risking, not a panic sell-off. Binance was again in the center.
š¬ The Takeaway:
In times of euphoria or fear, retail and institutions alike turn to Binanceānot just to trade, but to close positions, secure profits, or exit the storm.
Binance has transcended āexchangeā status. Itās the primary terminal for capital rotationāa platform that proved it can withstand nation-state scale pressure without systemic failure.
Written by Crazzyblockk
