From August 6 to 7, 2024, the net daily capital inflow to the Binance platform amounted to $2.2 billion, according to DeFiLlama data. This growth occurred amidst the cryptocurrency market’s attempts to recover after a significant decline.
It is noteworthy that this increase in capital inflow happened against the backdrop of an overall downturn. Over the past 30 days, the total capital inflow was only $3.4 billion, while in the last 24 hours alone it was $2.2 billion. This underscores the significance of the recent inflow in a volatile market.
The day before, Binance CEO Richard Teng announced a daily capital inflow of $1.2 billion, noting that it was one of the largest days for this indicator in 2024. He also mentioned that the substantial capital inflow demonstrates the continued trust of users in the Binance platform despite market volatility.
Additionally, the increase in capital inflow may be related to recent announcements by Binance about the launch of new products and services aimed at improving user experience and enhancing security on the platform. Investors may view these measures as strengthening Binance’s position as a leading cryptocurrency exchange, contributing to the growth in capital inflow.
Experts also point to the possible influence of macroeconomic factors, such as changes in interest rates and inflation, which may encourage investors to seek alternative assets, including cryptocurrencies.
