Binance Logs Its Biggest Weekly BTC Outflow Since June 2023
Plus: Solana Foundation Launches DvP Settlement Program, Bond Market MOVE Index Nears March High
Good Morning Lions,
Coins are leaving Binance while whales send stablecoins in, and I think that pairing points to accumulation more than distribution. BUT the bond market is getting twitchy, and bitcoin options are pricing in almost none of it. If rates volatility spills over, cheap BTC volatility gets repriced fast.. and those fresh stablecoin bids on Binance get tested right away.
Binance Records Largest Weekly BTC Outflow
TL;DR: CryptoQuant data shows Binance had a net outflow of 23,137 BTC in the week through Sept. 27, its largest weekly outflow since June 2023. The same data shows whale stablecoin inflows to Binance up 40% since mid-August.
Solana Foundation Launches DvP Settlement Program
TL;DR: The Solana Foundation announced Solana DvP, an open-source escrow program built for delivery-versus-payment settlement. It gives institutions a standardized API for settling trades, and J.P. Morgan provided input on the design.
Bond Market MOVE Index Nears March High
TL;DR: The MOVE Index is the bond market's version of the VIX. CoinDesk reported it hovering around 116, near its March high. Over the same period, bitcoin's BVIV volatility index and the S&P 500's VIX both sat near year-to-date lows.
Arkham Ties $2.8 Billion to Pump.fun
TL;DR: Arkham Intelligence data, reported by Crypto Briefing, links $2.838 billion in on-chain assets to Pump.fun. About $2.19 billion of that sits in the platform's own PUMP token. Most of the rest is held in SOL and stablecoins.
Ethereum Economic Zone Completes Atomic Transaction
TL;DR: A WuBlockchain post cited by Crypto Briefing says Ethereum Economic Zone completed its first atomic L1-to-L2 cross-layer transaction on Ethereum mainnet. LeoDex News could not independently verify the report.
XRP Ledger Payment Volume Rebounds Sharply
TL;DR: U.Today reports that daily payment volume on the XRP Ledger rose 386% in one day to about 583.3 million XRP. Even after the jump, volume is slightly below the 30-day average of roughly 638 million XRP.
Hoskinson Presses Gemini to List ADA
TL;DR: Cardano founder Charles Hoskinson replied "List ADA" to Gemini's 11th-anniversary post on X, reviving a listing campaign that goes back to 2022. U.Today reported that Gemini has never publicly addressed ADA specifically.
Nobody knows yet what those whales will do with the stablecoins now sitting on Binance. If they go into spot BTC, the outflow streak has fuel behind it. If coins start flowing back onto the exchange, the accumulation case falls apart fast 🦁 — Khal
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More crypto news, daily, at news.leodex.io. The Daily LEO · Written by the LEO Team, Edited by Khal.