Binance Sees $809M Net Inflows, Topping Bybit and Gate on DefiLlama

Binance recorded $809 million in net inflows over the past 24 hours, the highest among centralized exchanges tracked by DefiLlama. The figure places the exchange well ahead of Bybit, which saw $196 million in net inflows during the same window, and Gate, which registered $60.94 million. Net inflows measure the difference between assets deposited and withdrawn across the platform, and a positive reading indicates that traders are moving funds onto the exchange rather than pulling them off.

The inflow figures are sourced from DefiLlama's centralized exchange net flow tracker, which aggregates on-chain wallet data linked to major trading platforms. The tracker covers spot holdings across supported chains and does not include derivatives positions or leveraged trading activity. This means the $809 million figure represents net spot asset movement into Binance-controlled wallets, not total exchange activity including futures or options.

The specific catalyst for the $809 million inflow has not been confirmed by Binance or DefiLlama as of the latest data print. Market participants have pointed to several possible drivers, including recent token listing announcements, shifts in trading fees, or broader volatility that pushed traders to consolidate positions on the largest exchange. Institutional activity is another plausible factor, as large funds often route spot purchases through major venues with deeper order books.

The gap between Binance's $809 million and Bybit's $196 million highlights a significant divergence in where traders are choosing to hold spot assets. Gate's $60.94 million inflow, while positive, is roughly 13 times smaller than Binance's reading for the same period. This distribution suggests that Binance is capturing the dominant share of net new deposits among the three exchanges, a pattern that could reflect its larger user base, broader asset selection, and deeper liquidity.