Despite BTC’s Price Drop, Bitcoin Held on Exchanges Is 28% Lower Than Last Year
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....
Related News
While the price of bitcoin is 38% lower than its $69K price high three months ago, the amount of bitcoin on exchanges is at its lowest figure since April 2021. At the end of July last year, there was 2.59 million bitcoin held by crypto trading platforms, and today there’s only 2.36 million held by exchanges, which means there’s 8.8% fewer bitcoin on exchanges than six months ago.
Bitcoin Exchange Reserves Drop 8% Lower Than the Bitcoin Held on Exchanges 6 Months Ago
According to current statistics, there’s 2.363 million bitcoin, or $100 billion worth, of the....
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Since This Time Last Year, Large Sums of Bitcoin Continue to Be Withdrawn from Centralized Exchanges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....
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.....
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)....
Amid the market carnage tied to Terra’s recent fallout, bitcoin sent to exchanges saw a brief spike on May 7, jumping more than 2% higher from 2.481 million to 2.532 million bitcoin. Despite the recent increase of bitcoin sent to trading platforms, the number of bitcoins on exchanges today remains lower than ever before. Bitcoin Continues to be Taken Off Exchanges Bitcoin (BTC) continues to be removed from centralized cryptocurrency exchanges as the number is much lower than the lows that were recorded on November 15, 2020. 248 days earlier, on March 12, 2020, the day after the....