RATE Group | BTC Outflow on BitMEX Exceeded Inflow by $73M: TokenAnalyst
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BTC Outflow on BitMEX Exceeded Inflow by $73M: TokenAnalyst

22 Jul BTC Outflow on BitMEX Exceeded Inflow by $73M: TokenAnalyst

Posted at 04:11h in Bitcoin News by

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Bitcoin (BTC) outflows on major crypto exchange BitMEX have notably exceeded the inflows after the firm was reported to be a subject in a regulatory investigation.

Bitcoin outflows on BitMEX exceeded inflows by $73 million

Over the past 24 hours, BitMEX saw an outflow of $83 million worth of Bitcoin, while only $12 million came in, London-based blockchain data provider TokenAnalyst reported in a tweet on July 19.

24-hour on-chain Bitcoin flows on major exchanges. Courtesy of: TokenAnalyst Twitter

24-hour on-chain Bitcoin flows on major exchanges. Courtesy of: TokenAnalyst Twitter

While such a discrepancy appears to be abnormal in comparison with other exchanges, such as Binance, which saw a $54 million outflow alongside an inflow of $58 million, BitMEX exchange has experienced outflow dominance several times before, according to TokenAnalyst.

Historic inflow and outflow on BitMEX. Courtesy of: TokenAnalyst

Historic inflow and outflow on BitMEX. Courtesy of: TokenAnalyst

Bitcoin outflow dominance on BitMEX is normal due to the amount of Bitcoin held on the platform

The spike of Bitcoin outflows came amid recent reports the United…

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