Only 5.8% Of Bitcoin Supply Is Held On Exchanges

Only 5.8% Of Bitcoin Supply Is Held On Exchanges
фото показано с : nulltx.com

2023-8-27 09:23

The current state of Bitcoin’s distribution and whale activity reflects a significant shift in the cryptocurrency landscape since its peak in December 2017. With only 5.8% of Bitcoin supply held on exchanges, the lowest since 2017, there’s a growing trend of investors withdrawing their assets from centralized platforms. 

Source: Santiment Implications

This movement indicates a shift towards greater decentralization, as more holders are opting to store their Bitcoin in private wallets, possibly driven by security concerns and a desire for more control over their assets.

BTC Whales Are Buying Every Week

Simultaneously, the consistent occurrence of substantial whale transactions involving over $100,000 worth of BTC per transaction (57.4K weekly) points to sustained high-net-worth interest and involvement in the cryptocurrency. These transactions could signify various motives, such as large-scale investment, strategic moves, or institutional participation. 

Bitcoin, As A Store Of Value

This landscape indicates the evolution of Bitcoin from a speculative asset in 2017 to a more established and accepted form of value storage and investment. The reduced presence of Bitcoin on exchanges suggests that holders are adopting a long-term perspective, possibly viewing Bitcoin as a store of value akin to digital gold. This shift aligns with the narrative put forth by proponents of Bitcoin as a hedge against traditional financial systems.

Final Thoughts

The combination of reduced exchange holdings and significant whale transactions underscores Bitcoin’s resilience and continued relevance in the evolving crypto landscape. As the market matures, it will be interesting to observe how these trends influence price volatility, regulatory scrutiny, and the overall adoption of cryptocurrencies as a mainstream asset class.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!

Image Source: nexusplexus/123RF // Image Effects by Colorcinch

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 98631.5 (+0.12%)
Объем 24H $67.414b
Изменеия 24h: -0.05 %, 7d: 7.98 %
Cегодня L: $98439.13 - H: $99414.82
Капитализация $1951.285b Rank 1
Цена в час новости $ 26005.41 (279.27%)

bitcoin only 2017 held exchanges supply growing

Источник: nulltx.com

bitcoin only → Результатов: 126


Bitcoin rally fueled by realization trustlessness is the only way forward

Dylan LeClair said Bitcoin’s recent solid performance boils down to the understanding that trustlessness is the only way forward. The Research Analyst pointed out that, amid tough geopolitical and macroeconomic conditions, Bitcoin has managed to buck the broader market trend – thanks to the growing realization it has no counterparty risk.

2023-4-12 20:00


Top Bitcoin Mining Player Canaan Creative Allows HKEX Filing to Lapse, Leading to Delay of IPO Possibly

Canaan Creative recently applied for an initial public offering over six months ago in Hong Kong, but it does not seem like they met the requirements within the timeframe allotted. Considering that these applications are only good for six months through HKEX, it is possible that this IPO may ultimately be delayed. On the HKEX […]

2018-11-15 21:16


Bitcoin ABC vs Satoshi Vision fork, who will come out Victorious?

Yes, the Lion is the king of the jungle. No, there cannot be more than one Lion to rule the jungle, one has to rip the other apart, but if both must claim the throne, then the level of agreement between the subjects to either of the leadership patterns becomes the only determinant that puts […] The post Bitcoin ABC vs Satoshi Vision fork, who will come out Victorious? appeared first on ZyCrypto.

2018-11-15 17:45


Фото:

CDRX Introduces a New Approach to Asset Securitization: Crypto Depository Receipts (CDRs)

CDRX could be soon pioneering a paradigm shift in equity investment, through its securitized equity tokens labeled Crypto Depository Receipts (CDRs). The company is introducing an alternative to replace traditional investment instruments like equities and bonds, bringing investment opportunities to everyone that purchases the token, not only wealthy individuals and accredited investors.

2018-11-15 15:51


Фото:

Bitfury Acquires Minority Stake in Final Frontier, Aims To Expand Services

The Bitfury Group has acquired a minority stake in blockchain services firm Final Frontier. Both organizations are looking to utilize each other’s knowledge and experience in the traditional and digital finance spaces to potentially release a new line of financial products and services designed to assist professional investors in getting their hands on digital assets.

2018-11-14 00:53


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

CHILLGUY Skyrockets 1,000x In Four Days, Captivating The Meme World

$CHILLGUY, formerly known as “Just a Chill Guy,” has captured the meme token spotlight by surging 1,000 times in just four days. The character, created by illustrator Phillip Banks in 2023, features an anthropomorphic brown dog dressed in a baggy sweater, jeans, red sneakers, and sporting a relaxed “don’t care” […]