Approximately 49 days ago, according to statistics recorded by cryptoquant.com, the number of bitcoins held on the exchange was about 2.503 million. Since then, $4.76 billion worth of bitcoin has been removed from the central crypto exchanges, as there are 2.275 million held on trading platforms today.Glassnode reported on July 5 that despite bitcoin’s “weak price reaction through June, bitcoin is on track for its most aggressive rate at which it was withdrawn from the exchanges,” it reported.
Bitcoin balances on exchanges declined
from aggressive withdrawal numbers.
BTC) According to market statistics from coingecko.com, the 24-hour price range is between $21,888 and $20,710 per unit. Currently,BTCis 69% lower than the all-time high recorded on November 10, 2021, when the major crypto asset reached $69K per unit.
The majority ofBTClosses in the last month, as 30.4% of the drop in the USD value of bitcoin occurred in 30 days, according to statistics took place. While prices are bleak, there have also been significant clearing and crypto exchange operations that have stopped withdrawing. This definitely injected a lot of fear into the crypto economy and despite the low prices, many bitcoins moved off the exchanges.
Five days ago, the Glassnode analysis team reported on July 5 that “Bitcoin locked up one of the worst monthly price performances in history, with prices trading down -37.9% in June. Bitcoin saw an almost complete exile of market tourists, leaving the determination of HODLers standing as the last line,” the company explainedlast Tuesday.
Glassnode furtherdetailedthat there was a large amount ofBTCremoved from the centralized trading platform in June.” Glassnode stated that “despite the weak price reaction through June, bitcoin is being withdrawn from exchanges at the most aggressive rate in history.” Total exchange outflows in June peaked at -151K ; BTC/ month, with Shrimp and Whale being the main receivers,” the analysis team added.
Bitcoin.com News reported on May 22, 2022 that the number of bitcoin holdings on exchanges had dropped, hitting its lowest level since 2020. At that time, there were 2.53 millionBTCon the exchanges, according to the cryptoquant.com index. Today, cryptoquant.com data shows 2,275,000, so that number is 9.109% lower than the May 22 statistic. BTCare currently held on the exchange.
The value of BTCon exchanges in May was approximately $73.7 billion, and the value of bitcoin on exchanges on July 10, 2022 was approximately $47.5 billion. bituniverse, Peckshield,. chain.info, and etherscan data show that Coinbase is the largest exchange byBTCholdings; BTCreserves.
According to Bituniverse statistics, Coinbase holds 853,530 BTC and is the second largest exchange byBTCholdings with Binance at 340,410BTC. Between Coinbase and Binance, both exchanges command over 52% of the bitcoin held on crypto exchanges today.
Image credits: Shutterstock, Pixabay, Wiki Commons
