Binance received more than $15.7 billion in inflows during August as Bitcoin and broader crypto valuations rebounded — a record figure that captured over 75% of all centralized exchange flows.Binance Took 8.4 Times the Second-Largest Venue's InflowsAccording to Binance Research, the $15.7 billion represented roughly 8.4 times the second-largest positive inflow across centralized exchanges."Smaller venues, by contrast, saw more mixed and fragmented flows," Binance Research noted.That concentration ratio is the more informative number than the absolute total. A single venue taking three-quarters of sector-wide flows during a month of renewed interest describes liquidity consolidating rather than distributing — traders returning to the market are routing to depth rather than spreading across venues.The Inflows Track Bitcoin's 20%+ August AdvanceBitcoin rose more than 20% during August, clearing the $80,000 level in a move that crushed short positioning.The rally ran from roughly $62,000 to an $81,265 high, with the break cracking a six-week range that had held between $61,500 and $66,900. A $3 billion short squeeze powered the initial move through $69,000, and roughly $6.4 billion in options expired on Deribit with max pain around $68,000 — far below where price settled.Exchange inflows are the flip side of that price action. Traders returning to spot markets need funded accounts, and the scale of the August advance drew capital back to venues after months of declining participation. Spot volumes had fallen to two-and-a-half-year lows and perpetual volumes to three-year lows before the breakout.July Positioning Set Up the August ResultBinance maintained liquidity resilience through July as well, registering positive month-to-date inflows during a period when several exchanges wound down operations.That matters for interpreting August. Capturing 75% of flows in a strong month is easier when a venue was already accumulating share during a weak one. Consolidation in the exchange sector — smaller venues closing or contracting — leaves fewer places for returning capital to go.The Macro Backdrop Behind the ReboundAugust's move was driven by Treasury Secretary Scott Bessent's bond buyback expansion, which pulled long-end yields down from multi-decade highs and weakened the dollar.Spot Bitcoin ETFs absorbed roughly $2.8 billion across nine consecutive sessions, with August clearing $3 billion — the strongest month of 2026 and roughly double April's total. Bitcoin finished the month up 23%, ahead of gold's 9% and the Nasdaq's 4%.Bitcoin trades around $77,580 entering September after Fed Chair Kevin Warsh's hawkish Jackson Hole remarks pushed September rate hike odds to 58%, and a US strike on an Iranian island in the Strait of Hormuz sent Brent back above $92.