Money that fled FTX is looking for a place to land. But FTX is not necessarily the only platform that is losing crypto assets, at least according to a Tweet thread from Nansen.
We are seeing more deposits than withdrawals to these exchanges in the last 24H:
Bitfinex +$318M ($278M in ETH from 0xd275 alone👀)
Binance +$217M
Cryptocom +54.3M
CoinEx +$22.5M
Coinbase Custody +$15.9M
and others*ETH & ERC20 tokens only, from addresses that we have labeled pic.twitter.com/LapEbOtFoY
— Nansen 🧭 (@nansen_ai) November 15, 2022
The company claims that Binance and Bitfinex are the top crypto marketplaces accepting digital asset refugees following the collapse of FTX and concern that other platforms may follow. Platforms experiencing more outflows than inflows, include OKX -$96.6 million, Coinbase -$37.7 million, KuCoin -$36.4 million, Bittrex -$29.9 million and Gateio -$22.3 million all losing funds, according to Nansen.
In a note from Bitfinex, exchange representatives said data has revealed that Bitfinex has come out leading ERC20 deposits on centralized crypto exchanges. Bitfinex recently revealed its proof of reserves in a move to ensure its users.
Bitfinex said that the data from Nansen indicates that customer confidence in Central Exchanges is not completely destroyed, as the industry attempts to regain its reputation.
