13,820 BTC were withdrawn from the Binance exchange per day

According to IntoTheBlock, a Bitcoin blockchain data aggregator, 13,820 BTC were withdrawn from Binance on July 27. This is the largest withdrawal from the site since April 19, when the Bitcoin exchange rate was $ 56,000.

Usually, the withdrawal of bitcoins from cryptocurrency exchanges is a sign of the accumulation of cryptocurrency by both whales and smaller investors. They withdraw coins to cold wallets for safety, or to profitable farming services to generate passive income. In the first case, this allows you to protect yourself from hacks and losses, and in the second, it means the possibility of additional earnings. In any case, this is a sign that investors have bought bitcoins for a long time.

13,820 $ BTC left @binance yesterday.

This is the largest withdrawal since April 19, back when the price hit $56k

Negative exchanges Net Flows are usually associated with signs of accumulation, as investors look to move their assets to cold storage wallets or yield services. pic.twitter.com/cqg6gMKeyJ

— IntoTheBlock (@intotheblock) July 28, 2021

Another reason for withdrawing from the Binance exchange may be to reduce the withdrawal limits for unverified users. If earlier users could withdraw 2 BTC per day without going through the KYC procedure, now the limit has been reduced to 0.06 BTC (approximately $ 2400).

However, as noted by the founder of Capriole Investments Charles Edwards (Charles Edwards), the outflow of BTC is observed from all centralized cryptocurrency platforms. Now the stocks of BTC on cryptocurrency exchanges are near their minimum values ​​for 2021.

We also note the growth of the bitcoin rate – in just a few days, BTC grew from $ 30,000 to $ 40,000, and at the time of publication, about $ 40,700 is being traded.

Earlier, the CEO of Digital Assets Data, Mike Alfred, expressed the opinion that within 10 years the rate of the first cryptocurrency will reach $ 1 million.