Coin Metrics Warns Binance Bitcoin Balance Jump May Be a Data Shift, Not a Selloff

By Isaac • November 7, 2026 11:14 pm •

A jump in reported Bitcoin balances at Binance may look like a wave of coins hitting the exchange. In this case, however, the data provider says the change can come from something much less dramatic: seeing more of the wallets that were already there.

Coin Metrics said in a November 4 data-change notice that newly disclosed exchange addresses would expand its coverage. The company expected significant step-change increases in certain hourly readings that day and daily readings the following day, particularly its Binance Bitcoin metrics.

The key sentence in that notice is easy to miss: Coin Metrics said the higher figures reflect broader address coverage, not a corresponding change in the exchange’s actual holdings. The notice