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Bitcoin Supply on Exchanges Reaches Three-Year Low
Summary: Bitcoin supply on crypto exchanges has reached its lowest levels since February 2018, data from on-chain analytics firm Santiment shows. Recent events, such as the lawsuits filed by the U.S. Securities and Exchange Commission (SEC) against major exchanges Binance and Coinbase have played a significant role in this decline. In the past week alone, approximately ...
Bitcoin supply on crypto exchanges has reached its lowest levels since February 2018, data from on-chain analytics firm Santiment shows.
Recent events, such as the lawsuits filed by the U.S. Securities and Exchange Commission (SEC) against major exchanges Binance and Coinbase have played a significant role in this decline. In the past week alone, approximately 6.4% of the total Bitcoin supply has been withdrawn from these exchanges.
The data also reveals a consistent decline in supply since 2020, when it reached its peak during a bear market. This suggests that traders and investors have been consistently opting for self-custody by withdrawing their Bitcoin from exchanges.
Author: Katie Lin
Tags: Binance,Bitcoin,Coinbase,Crypto Exchanges,SEC,U.S. Securities and Exchange Commission
Link: Bitcoin Supply on Exchanges Reaches Three-Year Low [Copy]
