Whales are still moving funds through Nobitex

Nobitex, Iran’s leading exchange, remains an active hub for large crypto transactions despite a sharp fall in traffic after the war in Iran. Global Ledger data show 2026 YTD volumes of $46.97M and current turnover around $9.4M/month versus a 2024 peak of $207M/month. Whale activity drives most flows: ~4% of addresses with >$200k generated 85% of volume, and Nobitex moved $3.06B to other centralized exchanges. Asset usage has shifted toward stablecoins (USDT ~84.4% of volumes) and ETH inflows have surged (599 → 2,021 ETH, 3.4x), while BTC deposits plunged 86.5% (to 0.08 BTC). Recent large withdrawals (~$18.85M across chains, including $8.07M BNB) underscore ongoing sanction-evasion and AML risks, and suggest persistent cross-border liquidity that can influence regional crypto markets and compliance scrutiny.