In the past month, #币安 net outflow was only over 500 million US dollars. Compared to its asset scale of 114 billion US dollars, this ratio is almost negligible, even less than 1%

Looking at OKX, the assets are approximately over 18 billion US dollars, with a net outflow of over 400 million. In proportion, OKX's outflow ratio is actually much higher than Binance's

So from the data perspective, Binance's status is very stable, and its revenue scale is obviously higher than #OKX, with funds not really fleeing on a large scale

Of course, if one day the Chinese community starts to collectively withdraw funds, the data might be significantly magnified, but that hasn't happened yet

What is truly worth noting is another matter: the entire market's TVL is experiencing a cliff-like decline. From the high point of 160B last October, it has dropped to 99B now, a reduction of more than 50% in four months

This is almost in sync with the price trend, which has already returned to levels seen at the start of the bull market in 2024, or even April 2025

This indicates that the problem is not with a single exchange, but rather that the entire market has entered a typical bear market state, with liquidity shrinking, risk appetite decreasing, and capital volume retracting

This exponential cliff-like drop shows how bearish the market currently is