Capital outflows exceed inflows as bitcoin prices surge

Some cryptocurrency exchanges are experiencing capital outflows exceeding capital inflows, Bloomberg writes. According to TokenAnalyst, these exchanges include Bitfinex, BitMEX, Binance and Kraken, and the outflows have been bigger than inflows by approximately $622 million in the course of the past five days.

In the case of Bitfinex, more than $1.7 billion of Bitcoin and Ether has left Bitfinex since April 26. This capital flight may contribute to Bitcoin’s 30 per cent price surge as people are abandoning Bitfinex’s stablecoin Tether due to last month’s fraud allegation.

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