@glimmerorb
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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