Massive Exodus of Bitcoin Continues to Leave Exchanges, Over 87,900 BTC Withd...
Despite the bitcoin price high, there continues to be a massive exodus of bitcoin leaving exchanges. Onchain data shows exchanges are being drained like a sieve and during the last 30 days, 87,954 bitcoin was withdrawn from the top crypto trading platforms. Back in December 2019, it was reported that the San Francisco-based exchange Coinbase held close to 1 million BTC for its users. In fact, in January 2020, Coinbase had around 969,000 BTC and the next month, it was up to its highest point of 973,000 BTC on February 10, 2020. But all year long, not only from Coinbase, but also a slew of....
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Blockchain isn’t just for geeks. But because it’s such a new technology, many people aren’t warming up to it and gaining the many benefits that cryptocurrencies can offer them. Exodus, a multi-digital-asset wallet with the ShapeShift exchange built in, is attempting to change this picture. As its name implies, Exodus allows people to leave the geeky imagery often associated with blockchain technology and experience it as the uplifting journey that it can and should be. Exodus distinguishes itself on the blockchain landscape with its aesthetically pleasing user interface that will be....
While the second-largest crypto asset by market cap has gained more than 15% in value against the U.S. dollar during the last week, the number of ethereum stored on exchanges has dropped significantly during the last few weeks. In less than two years, more than 29% of the ether held on exchanges has left centralized trading platforms and since December 2021, roughly 5.89% or 1.51 million ether has left exchanges. Number of Ethereum on Exchanges Continues to Drop Seven days ago, Bitcoin.com News reported on the number of bitcoin (BTC) held on exchanges and how the metric dropped to the....
A massive 30,000 BTC was transferred into unknown wallets over the past week, leading many investors to wonder about the current outlook concerning Bitcoin. When big money moves into cold storage, it reduces selling pressure because it often indicates that whales and institutional investors are expecting the price to go up and opting for self-custody. Massive Exodus Of BTC To Cold Storage Data from CoinGlass shows that almost 30,000 BTC have been moved off exchanges in the past week. With Bitcoin currently trading around $26,000, this equates to over $780 million moved into cold storage.....
As security of cryptocurrency exchanges is being increasingly questioned in the wake of the recent Bitfinex hack, the developers at Blocknet are calling for an exodus to leave centralized exchanges behind. ‘It’s Time to Remedy the Problem’ – Blocknet. This year there has been quite a few breaches of cryptocurrency exchanges. Platforms such as Gatecoin,....
Cryptocurrency reserves held on digital asset exchanges have been dropping to new lows, as some of the top exchanges have seen significant bitcoin reserve balance drops. A few months ago trading platforms had a lot more bitcoin reserves on hand and onchain data shows a few exchanges have seen customers steadily drain 187,000 bitcoins ($2.1B) from exchange-owned cold wallets. In February, Coinbase had 1 million bitcoin under management and today reserves are down over 9% as 92,000 bitcoin ($1B) has left the exchange. Today, according to Bituniverse’s online exchange balance rank....