CryptoQuant: Binance's large Bitcoin inflows drop to the lowest level since 2018

According to a report by CryptoQuant data analyst Darkfost, the inflow of "Wholecoiners" (transactions greater than 1 BTC) on the Binance exchange is significantly decreasing, with the annual inflow dropping to about 6,500 BTC, the lowest level since 2018, and the weekly average inflow is only 5,200 BTC.

Unlike previous cycles, the inflow of large amounts of Bitcoin in this bull market is decreasing rather than increasing, maintaining a downward trend even during periods of rising Bitcoin prices. Analysts believe that this phenomenon not only indicates a weakening of selling pressure from investors holding large amounts of Bitcoin but also reflects structural changes in the market: as Bitcoin valuations increase, it becomes more difficult to own a whole Bitcoin; at the same time, the expansion of the DeFi ecosystem provides investors with more trading and holding channels, diverting funds that would originally flow to major centralized exchanges.