According to the analytical service CryptoRank, there are only 1.3 million BTC left on the wallets of the main cryptocurrency exchanges, and this is the lowest figure for 2021.
The trend towards a decrease in the number of bitcoins on the wallets of cryptocurrency exchanges began after the halving in the spring of 2020. If in October last year, 9.5% of all mined bitcoins were stored on the wallets of exchanges, then by July 2021 the indicator dropped up to 7.3%. Now, only 6.3% BTC is stored on the addresses of the exchanges.
How informs CryptoRank, 583,000 BTC are stored on the wallets of the Coinbase exchange, Binance came in second with 329,000 BTC, and Bitfinex closes the top three, which stores 193,000 BTC. At the same time, if at the beginning of the year 50.2% of the total supply of bitcoins in the wallets of cryptocurrency exchanges were stored on Coinbase addresses, then by the end of the year the figure dropped to 40.65%.
The decrease in the number of bitcoins on the wallets of cryptocurrency exchanges is a “bullish signal”. This suggests that traders are withdrawing their stocks of coins to cold wallets and do not plan to sell them in the near future. According to analysts, up to 100,000 BTC are transferred to the “illiquid” status every month. These are the coins that do not move between addresses for a long time.
CryptoRank information confirmed data from the analytical company Glassnode, which reported that over the past week, only 978.45 BTC was received on the wallets of cryptocurrency exchanges. This is the lowest figure in the last five months.
Many retail investors and even some companies continue to store their bitcoins on cryptocurrency exchanges without intending to sell them anytime soon. That is, in fact, the volume of “liquid” bitcoins may be even less.
Recall that on the morning of December 24, the bitcoin rate showed a noticeable increase. The price of BTC increased by almost 6% per day and reached $ 51,000.
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