Storj drains from Binance as exchange holdings hit six-month low

CryptoQuant data shows Binance now holds just 12.08 million STORJ tokens, the lowest level in six months. Over the past week the exchange saw an average daily net outflow of 234,566 tokens while on-chain transfers averaged 296.2 million daily — a 705 % jump from the three-month norm.

The drop wasn’t driven by heavier withdrawals. Total outflow volume actually fell 96.2 % month-on-month. Instead, the exchange’s reserve base itself has shrunk sharply — down 63.9 % from last month and 71.8 % below the three-month average.

The steepest single-day outflow came on 15 September, when roughly 1.11 million tokens left the platform. Since then reserves have declined every trading day. Meanwhile on-chain activity surged: 16 September brought 2,574 active addresses and daily transaction counts rose 518 % to 4,179.

Based on information from https://cryptonews.net