Binance Spot Volume Increase, Whale Buys Bitcoin Using BUSD

Binance-Spot-Volume-Increase-Whale-Buys-Bitcoin-Using-BUSD

As of yesterday, daily Bitcoin trading volume was the highest since the June decline.

The biggest reason is the increase in Binance spot trading volume, and the trading volume has continued to increase since the fee-free conversion on July 8. recorded

The ratio between Binance Perp and Spot market is highly price-correlated, but since January of this year, it has become less effective.

However, Cryptoquant
All Exchanges -> Spot Exchanges data to increase your credibility.

Please check the section where a large amount of Bitcoin actually moves to the spot exchange.

Additionally, the Binance Spot Fee Free on July 8 also included the BTC/BUSD market, and the BTC/BUSD trading volume is actually increasing.

You can see that the BUSD deposit counting has also increased.

The important thing is that there is no withdrawal movement unlike other sections.

It is very likely that someone bought Bitcoin with BUSD.