On August 5, 2024, Binance recorded $1.2 billion in net inflows, marking one of its most successful trading days this year. This surge occurred amidst a significant market downturn, highlighting strong investor confidence despite the volatility. Other exchanges such as ByBit, Crypto.com, and OKX also saw substantial inflows of $301.4 million, $107.8 million, and $97.7 million, respectively. The sharp decline in cryptocurrency prices led to the liquidation of over $600 million in leveraged long positions, but Bitcoin has since rebounded by 14% to around $56,770​.