Despite the Price Drop, Number of Bitcoin Held on Exchanges Continues to Slide
Roughly 49 days ago, the number of bitcoin held on exchange was around 2.503 million, according to statistics recorded by cryptoquant.com. Since then, $4.76 billion worth of bitcoin has been removed from centralized crypto exchanges, as there’s 2.275 million held on trading platforms today. Glassnode reported on July 5, that despite bitcoin’s “weak price-action through June, bitcoin has been withdrawn from exchanges at the most aggressive rate in history.” Bitcoin Reserves on Exchanges Decline From an Aggressive Number of Withdrawals At 2:00 p.m. (ET)....
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With the decline in the price of bitcoin, there has been a lot of selling from investors. This sell-off trend has contributed to the further decline of the digital asset’s prices in recent times. However, as the bear run continues, there has been a marked reduction in the amount of BTC being sold off by the holders. The decline in the number of addresses that are sending their coins to centralized exchanges speaks volumes about this. Sellers Beginning To Cool Off Over the last year, the number of bitcoin addresses that had been sending BTC to centralized exchanges, presumably to sell their....
Only 8.1% of Bitcoin is held on exchanges compared to Ether where almost one-quarter of the supply sits on exchanges. Almost one-quarter of Ethereum’s (ETH) circulating supply is held on cryptocurrency exchanges, according to analytics platform ViewBase.The website shows that 26,768,260 ETH are on exchanges, equating to 23.6% with a value of $10.3 billion. Almost 26 million of these tokens are held by 10 centralized exchanges, with Coinbase alone sitting on 8,521,807 ETH — 7.5% of the supply. Ether is miles ahead of Bitcoin (BTC) in terms of the percentage of tokens held on exchanges.....
The number of bitcoin held on exchanges has continued to drop in recent times as the metric suggests crypto advocates are pulling funds off of trading platforms for long-term holding. At the time of writing, 2.32 million bitcoin worth over $90 billion is held on centralized cryptocurrency exchanges.
Since This Time Last Year, Large Sums of Bitcoin Continue to Be Withdrawn from Centralized Exchanges
Bitcoin is being pulled off exchanges in greater numbers these days, as the metric shows the amount — 2.32 million bitcoin (BTC) held today — hasn’t been this....
While the price of bitcoin is more than 40% lower than it was 90 days ago on March 29, the number of bitcoin held on exchanges has also been reduced. Last year on the same day in June, 2.79 million bitcoin was retained on crypto trading platforms and a year later roughly 28.67% of the bitcoin held left crypto exchanges. The decreasing quantity of bitcoin kept on centralized exchanges suggests the coins are being held in long-term storage rather than being prepared for trading. Data Suggests Bitcoins Are Being Removed From Exchanges and Into Noncustodial Wallets for Long Term Storage On....
A price crash lays bare some of the strangest aspects of people’s personalities. When I went to bed Friday night, 1 bitcoin was threatening to break through the US$360 floor. When I awoke Saturday morning, the price was in the 330s. By Sunday afternoon, I saw sell prices on some exchanges around US$280. That range encompasses a 22% drop in Bitcoin’s exchange value against the US dollar. “Bearish: In case prices break down bellow the US$340-350 zone, it would most likely go down to the US$260 area with the round number of US$300 perhaps slowing down the slide a bit.” By Monday morning, the....