According to a research note by analysts of the WhaleWire portal, a record amount of Bitcoin cryptocurrency has been withdrawn from the Binance cryptoexchange in just 24 hours over the past weekend. As subsequently indicated resource Crypto Quant, in just a matter of one day some 180,000 Bitcoins worth $5 billion have been withdrawn from the exchange.

As a result, the exchange was compelled to suspend the withdrawal of Bitcoins due to the huge number of non-processable transactions stuck in the pipeline. Then the withdrawal was resumed, and the cooling-off efforts appeared somewhat effective, but the residual overhang remained. Such a gigantic volume of Bitcoin withdrawals from the exchange may be an indication that whale investors decided to leave the market for some unknown reason.

To prevent a repeat of the situation with the blocked withdrawal of coins, the exchange decided to revise the withdrawal fees. In addition, there are plans to integrate the so-called Lightning Network.

In contrast, representatives of the exchange pointed out that the fact of withdrawal of Bitcoins in such an unusual volume does not mean that there are some lingering problems. They claim that the activity that has been noted by analysts is nothing more than the transfer of Bitcoins from the platform's hot wallets to the cold wallets. These actions are due to increased awareness of security matters of the cryptocurrency. Proponents of the cryptocurrency exchange once again tried to reassure the community by repeating the so-called fourth clause of its “charter” once pronounced by its founder Changpeng Zhao, CZ. This point says not to panic and keep calm amid attempts to disrupt the reputation of the exchange and its founder.

Given how many issues the exchange has and how many investigations are being conducted against it, it is becoming harder and harder to remain calm. Maybe this situation really does not call for a panic, but the overall environment around the exchange has long been less than favorable. Binance has become toxic to the market, though it is trying its best to hide it.

Meanwhile, according to BitInfoCharts, the average Bitcoin transaction fee rose to $19.20, or BTC 0.00068. This was the first time since 2017. The commission per block was BTC 6.76, while for the high block 788695 it was BTC 6.7.