New on-chain data from CryptoQuant has revealed that Binance is the dominant hub for large-scale Bitcoin activity, far surpassing all other exchanges when it comes to whale-level transactions.
Analyzing wallet flows of 1,000 BTC or more, the report highlights that while several platforms see notable volume, Binance stands alone as the primary exchange for high-frequency institutional activity.
Whale flows crown Binance the king of crypto liquidity
According to the report, Binance leads the industry in total whale-sized Bitcoin flows, registering over 30 million BTC in both inflows and outflows. But volume alone doesn’t tell the full story. What sets Binance apart is its sheer number of large transactions—a metric that signals ongoing, consistent use by deep-pocketed players.
While other platforms like HTX Global and Kraken also saw significant whale volumes, their transaction counts pale in comparison. Binance recorded an astonishing 56 million+ whale transactions, dwarfing HTX’s ~16 million, and indicating that Binance is the most trusted and actively used platform for executing high-impact trades.
Why this matters for the market
The dominance of whale activity on Binance translates to exceptional liquidity, which in turn enables tight bid-ask spreads and reliable execution for large orders with minimal slippage. For institutional players and high-net-worth traders, this environment is critical.
More broadly, the data positions Binance’s order books as key indicators of institutional sentiment. When major movements occur in the crypto market, it’s increasingly likely that the initial ripple started at Binance.
CryptoQuant’s analysis makes it clear: Binance isn’t just where Bitcoin whales swim—it’s where they live. The platform’s unmatched transaction frequency and volume from top-tier traders reinforce its status as the go-to venue for market-shaping decisions.
Kosta Gushterov
Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.
