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

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

The chart under represents the each day BUSD withdrawn from and deposited into crypto exchanges since mid-November 2022.

BUSD net transfer volume from/to exchanges (Source: Glassnode)
BUSD internet switch quantity from/to exchanges (Supply: Glassnode)

On Feb. 13, round $40 million BUSD tokens had been withdrawn from the exchanges. On Dec. 13, 2022, this quantity was over $3 billion. This transformation marks a -98.6% lower within the quantity of withdrawn BUSD in 62 days.

The crypto market witnessed a large BUSD outflow from exchanges on the finish of 2022. In keeping with CryptoSlate analyses, the quantity of withdrawn BUSD reached $6 billion between Nov. 19 and Dec. 19, 2022. One other evaluation revealed that $6.2 billion value of BUSD left the exchanges between Dec. 3, 2022 and Jan. 3, 2023.

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