On-chain data reveals a significant behavioral shift on the world’s largest cryptocurrency exchange. For the week starting January 19, 2026, Binance recorded massive capital outflows, marking the highest negative weekly netflow since November 10.
According to the multichain weekly netflow data, the scale of the outflows is substantial:
Bitcoin (BTC): approximately $1.97 billion net outflow
Ethereum (ETH): approximately $1.34 billion net outflow
Tether (USDT – ERC20): approximately $3.11 billion net outflow
Interestingly, while the Ethereum network experienced a large stablecoin withdrawal, the Tron network (USDT-TRC20) recorded a positive inflow of around $905 million, indicating capital rotation across networks rather than a complete exit from centralized exchanges.
A liquidity removal of this magnitude—exceeding $6 billion across major assets—is generally interpreted through two primary lenses:
Bullish interpretation: large holders and institutions may be moving assets into self-custody or cold storage, potentially setting the stage for a future supply shock.
Risk-off interpretation: exchange-specific concerns or broader market FUD may be driving capital away from Binance.
The key point is that both risk assets (BTC, ETH) and stablecoins exited simultaneously, which often precedes elevated volatility rather than immediate directional clarity.
Written by CryptoOnchain