Glassnode: Bitcoin volumes on exchange wallets have been dec | The best crypto signals channel
Glassnode: Bitcoin volumes on exchange wallets have been declining since March 12
Glassnode analysts report that since" black Thursday " on March 12, when bitcoin fell by 50% at once, the volume of BTC on the wallets of centralized exchanges continues to decline.
Currently, there are about 2.3 million BTC on the wallets of the exchanges. This is the lowest figure since May 22 last year. If until March 12, 14.1% of the total number of bitcoins was stored on the wallets of exchanges, now this indicator has decreased to 12.5%.
Since March 12, about 300,000 BTC has been withdrawn from the wallets of the exchanges. If we count in dollars, the assets at the addresses of the exchanges have decreased by $3 billion and now amount to about $23 billion.
Most of the bitcoins were withdrawn from BitMEX, Huobi and Bitfinex. Moreover, 100,000 BTC were withdrawn from the addresses of the first two exchanges. It is quite possible that traders were leaving the derivatives market, since BitMEX and Huobi are among the leaders in terms of derivatives trading volumes.
On the other hand, the volumes of ETH on the wallets of exchanges continue to grow. Over the past two years, the volume of the second cryptocurrency on the wallets of exchanges has steadily increased, and from 5.6 million ETH increased to 18.6 million ETH. Thus, centralized exchanges store about 17% of all issued coins.
In April, Glassnode researchers suggested that BTC owners were withdrawing coins from cryptocurrency exchanges in anticipation of halving the reward to miners and hoping for an increase in the exchange rate.
