Recent data from DefiLlam - CEX Transparency reveals that Binance saw $3.971 billion in net inflows in the week following the Bybit hacking incident, a figure 10 times higher than the combined total of nine other top exchanges. Additionally, Binance's February 2025 monthly inflows were nearly 7 times higher than the second-ranked exchange, reflecting its position as a preferred platform during both market volatility and stable periods.
Short-Term Safe Haven Effect: Market Funds Flow to Binance During Uncertainty
In the week following the industry security incident, Binance recorded $3.971 billion in net inflows from Feb. 21-27, 2025. In contrast, total inflows across nine other major exchanges (excluding Bybit) amounted to only $396.83 million, making Binance’s inflows 10 times the combined total of these exchanges.
This indicates that during unexpected events or market volatility, Binance is perceived as a safer and more stable asset storage platform, prompting users to transfer their funds there first.
CEX Transparency - DefiLlama data: Feb. 21-27, 2025
Long-Term Capital Inflow Trend: Binance Maintains Market Trust
Beyond short-term market movements, Binance continues to see steady and significant capital inflows. In February 2025, Binance recorded net inflows of $5.323 billion, compared to a combined $1.229 billion from nine other exchanges (excluding Bybit). This means Binance’s inflows were 4.33 times the total inflows of these exchanges. *Note: Bitget data not available for this period
Notably, Binance’s inflows were nearly 7 times that of the second-highest inflow exchange, Bitfinex ($768.19 million), reflecting a strong concentration of capital toward Binance. Moreover, according to DeFiLlama historical data, Binance recorded over $3 billion in net inflows in six of the past 12 months, with November 2024 reaching a peak of $9.2946 billion, the highest in the past year.
CEX Transparency - DefiLlama data: Feb. 01-28, 2025
In summary, the latest DeFiLlama fund flow data reaffirms Binance’s pivotal role in the industry - whether during market turbulence or periods of stability, users consistently choose to move their funds to Binance. In times of heightened uncertainty or security incidents, Binance sees a significantly higher influx of funds compared to other exchanges, underscoring its appeal as a safe-haven platform. At the same time, Binance’s steady and sustained long-term inflows reflect the market’s strong confidence in its security, reliability, and comprehensive service offerings.
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