According to DeFiLlama’s CEX Transparency metrics, Binance has seen a net flow of $1.2 billion over the last 24 hours.
The significant influx of money comes in the midst of a volatile market and is higher than that seen by other major players such as OKX or Bybit.
This influx of users reflects their strong confidence, even though the crypto market is experiencing fluctuations.
Bitbot is a Telegram trading app that has been gaining traction. The development of the crypto-market will benefit Bitbot.
Investor confidence is strong
Richard Teng, Binance’s new CEO is pleased with the recent increase in net inflows.
Teng who took over the company’s leadership following Changpeng Zhao’s resignation and an important multi-billion dollar US fine for regulatory violations views this capital inflow to be a strong sign of investor confidence.
Teng said, “This is one of the largest net inflows days of 2024.” This influx of investors suggests that despite the recent market declines, they are still taking advantage of opportunities to purchase at lower prices.
Teng highlighted Binance’s notable recovery in the major token price and the largest trading volume of the previous day.
Teng also added, “The current trends in the market support this observation.”
Binance received $3.5 billion of inflows in January. This was just two months after the parent company, Binance, admitted to money laundering and sanction evasion.
Binance has paid an $4.3 billion Department of Justice penalty without ever liquidating any cryptocurrency assets.
Teng isn’t without problems, however.
The CEO must supervise the creation of Binance’s global headquarters. He will also have to appoint new directors and ensure that an independent monitor is appointed for three years.
Binance is also still lacking licenses for key crypto-markets, while its US affiliate faces a SEC lawsuit.
Rising interest in BitBot amid Binance developments
BitBot is gaining attention as Binance struggles to overcome these obstacles.
BitBot completed one of this year’s biggest token sales raising more than $6 million.
This platform will launch in the near future and its AI and advanced technology features are expected to boost growth within the trading industry.
BitBot wants to be the leading trading bot on Telegram by providing users with top-notch trading signals that will enhance their trading strategies.
The launch of the Telegram Mini-App coincides with a boom in Telegram mini apps. Hamster Kombat has over 232 millions users worldwide, while Notcoin boasts an $1.6 billion valuation. TapSwap, with its 60 million users, has made a splash as well.
Analysts believe that Telegram will be the future of both crypto- and tech applications. These predictions are likely to be accurate, and BitBot will become a major player in the crypto industry.
Click here for more information about BitBot.
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