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Bitcoin (BTC) Trading Slows Across Binance's Regional Sessions

Binance's regional Bitcoin turnover fell 80% in Asia, 89% in Europe and 73% in the U.S. on Oct. 31; tracked exchanges recorded a net outflow of 14,437 BTC.

Updated 2 min read
A commuter checks a phone on a wet financial-district sidewalk in Lower Manhattan, New York. / TokenPost.ai (mono)
A commuter checks a phone on a wet financial-district sidewalk in Lower Manhattan, New York. / TokenPost.ai (mono)

Bitcoin (BTC) trading on Binance contracted across Asian, European and U.S. sessions on Oct. 31, while tracked exchanges recorded a net withdrawal of 14,437 BTC over the day, Coinglass data showed.

Europe's session total was $143.48 million, down from $1.35 billion a day earlier. Asia recorded $167.01 million, compared with $817.06 million on Oct. 30, while U.S. turnover fell from $331.62 million to $90.69 million. Those comparisons represent declines of 89% in Europe, 80% in Asia and 73% in the U.S. for Binance's BTCUSDT pair.

Tracked exchanges held 2,455,136 BTC at 12:40 UTC on Nov. 1. Their balances were down 42,747 BTC over the week; the monthly reading, by contrast, showed a net inflow of 3,441 BTC.

Binance's daily outflow of 17,575 BTC was partly offset by additions elsewhere, leaving the tracked group with a smaller net decrease. Kraken recorded the largest daily addition, at 1,273 BTC, followed by Coinbase Pro at 1,105 BTC and Bybit at 521 BTC. Gate and KuCoin had daily outflows of 95 BTC and 35 BTC, respectively.

Coinbase Pro's reported balance was 834,456 BTC, the largest among the exchanges listed. Binance held 657,907 BTC and Bitfinex had 430,480 BTC. Over the week, Binance recorded a net outflow of 43,225 BTC and Coinbase Pro was down 4,886 BTC, while Bitfinex had a net inflow of 1,906 BTC.

The latest figures continue EconoTimes' coverage of exchange balances in an earlier Bitcoin snapshot.

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