Introduction

Amidst the departure of executives and trading Following its suspension, Binance faces liquidity concerns as whale activity reveals a complex pattern.

About Binance

binance, world’s leading crypto exchange, remains while being monitored community And it maintains a cautious attitude about its general Liquidity.

Executive Departures

In the past week, several high-level executives from the exchange’s Asia Pacific and Eastern European divisions have resigned.

Temporary Suspension of Trading

Moreover, Binance has temporarily suspended trading of many altcoins, including BUSD stablecoin, in response to the installation regulatory pressure.

Whale Activity

As these issues converge, the whales seem to be changing their style, mixing the coins.

Data from cryptocurrency analysis platform, Lookonchain, reveals that a $4 million transfer was made by a whale worth of Synthetics (SNX) on September 6, the day after a 2% rise of SNX prices.

Meanwhile, another whale pulled out $16 million in Ethereum (ETH) after an initial $36 million deposit.

On September 6, another user withdrew $12.3 million worth of Maker (MKR).

However, even though there have been notable withdrawals, some whales continue to make deposits.

For example, an ETH whale deposited $36 million in Tether (USDT) on September 5 only to withdraw $ 15.9 million worth of ETH an hour later.

Parallel data from the trajectories confirm this massive withdrawal.

Analytics platform shows that there was a net flow of $27.4 million in Bitcoin (BTC) on Binance in the past 24 hours.

Other Concerns

However, other concerns are emerging.

On September 6th, a withdrawal glitch related to USDC affected its movement on the stablecoin Optimistically, the Ethereum layer platform.

Despite growing concerns and increasing scrutiny in the market, Binance CEO Changpeng Zhao (CZ) dismisses the latest concerns. He explains that the departure of executives is simply for better roles outside the company.