Binance's BTC balance fluctuates over $1 billion for the month

These are the BTC inflows and outflows on the Arkham-tagged wallets of Bitfinex, Binance and OKX in 2022-2023: While Bitfinex has by far the largest on-chain transaction volume, deposits and withdrawals are closely correlated. Binance, on the other hand, sometimes has monthly balance fluctuations of $1 billion or more.