Binance records $2.4B inflows amid crypto dip buying

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Crypto investors are still buying the dip following this week’s massive market rout, and this can be seen in exchange flows. 

On Aug. 8, on-chain analytics platform Lookonchain reported that the world’s largest crypto exchange, Binance, experienced a net inflow of $2.4 billion since the market dip on Aug. 5.

It added that the majority of that was in stablecoins with an inflow of $1.33 billion in USDT and $519 million in USDC. This suggests that retail has been buying the dip, it noted.

“Some investors appear confident in the market and are buying the dip.”

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