Amr Taha2026-11-09

XRP Binance Deposit Share Hits Highest Since 2024 as Nasdaq Loses $2.5 Trillion Following Democrats’ Victory

XRP's seven-day deposit transaction share on Binance reached 59.5% on November 8, its highest reading since October 2024, as the token slipped below $1.15 to around $1.11. The corresponding withdrawal share fell to 40.4%, also its lowest since 2024. The shift is sharper on Binance than across centralized exchanges. All-CEX deposit share rose from roughly 45% on October 27 to 49% on November 8, while the withdrawal share fell from 55% to 50.9%. Binance's deposit share now exceeds the all-exchange figure by 10.5 percentage points. Its deposit-withdrawal gap stands at 19.1 points, versus a 1.9-point withdrawal lead across all CEXs. The divergence emerged amid wider risk aversion after Democrats won both chambers of Congress in the November 3 U.S. midterms. Concerns about tighter AI oversight and restrictions on data-center construction accompanied a November 5 stock selloff: the Nasdaq Composite dropped 5.5%, while the Nasdaq 100 shed about $2.5 trillion in market value. According to Ballotpedia, 46 of 47 local ballot measures decided in 2026 had outcomes favoring restrictions on data-center development as of November 4, either through approving new limits or rejecting development-friendly proposals.