Crypto withdrawals spike as XRP ETFs defy market downturn trends

Recent data shows shifting trends in cryptocurrency transactions across major exchanges. Withdrawals have surged on platforms like Coinbase and Binance, while spot XRP ETFs have seen limited outflows despite market fluctuations. The changes highlight evolving investor behaviour in digital asset markets. Bybit experienced a sharp decline in net transactions. On June 7, its reading peaked at +27,000, driven by a rare wave of concentrated deposits. Yet within 11 days, the figure plummeted to roughly -200 by June 18.

Binance’s net transactions also weakened. Its seven-day reading on June 18 hit -7,100, matching April levels and falling below its February 14 figure of -5,200. This suggests sustained withdrawal pressure on the exchange.

Coinbase saw even more pronounced outflows. Its seven-day net transaction reading on June 18 reached -15,500, surpassing its April 9 low of -14,200 and its February 14 level of -12,300. The trend underlines a broader move towards withdrawals across exchanges.

Spot XRP ETFs, however, have remained relatively stable. Since March 27, these funds recorded net outflows on only five trading days. By June 15, they saw inflows of about $2.82 million. Their holdings now represent 1.41% of XRP’s circulating supply. The data reveals a clear pattern of rising withdrawals across exchanges like Binance, Bybit, and Coinbase. Meanwhile, spot XRP ETFs have maintained steady inflows with minimal outflows. This divergence reflects differing dynamics in exchange activity and ETF investment strategies.