Binance recorded more than $16 billion in spot altcoin trading volume on Monday, dwarfing activity on rival exchanges. The spike has been attributed to improved macro liquidity conditions and Binance-specific incentives. The increase contributed to a broader market rally, with Bitcoin (BTC) crossing $112,000 within two days. However, Ether flows tell a different story. Data from CryptoQuant indicates that its net taker volume on Binance remains largely negative on Wednesday, continuing the August trend of signaling persistent sell-side pressure despite wider altcoin enthusiasm.
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- MUSD: 30% Ethereum - USDC: 21% - USDT: 18% - tBTC: 15% HyperEVM - Hyperbeat Ultra HYPE: 6% (includes different points across HyperEVM ecosystem)
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According to documents submitted to the U.S. Securities and Exchange Commission (SEC), the company purchased 21,021 Bitcoins between July 28 and August 3, bringing its total holdings to 628,791 Bitcoins, valued at over $71 billion at current market prices.
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