Retail traders massively withdraw their BTC from exchanges

2022-11-15 22:39

FTX collapse has birthed renewed interest in self-custody among retail users, as many are now moving their Bitcoin (BTC) to cold wallets.

Glassnode data, as analyzed by CryptoSlate, showed that retailers are taking out their coins from exchanges at the most aggressive rate, with the withdrawals coming mostly from Crypto.com.

Retail Bitcoin Withdrawals (Source: Glassnode)

Crypto.com is currently faced with increasing FUD following revelations that the exchange mistakenly sent 320,000 ETH to rival exchange Gate.io.

While CEO Kris Marszalek has addressed these concerns and revealed that the exchange was operating as usual, users remain apprehensive as they have been massively withdrawing their assets from the firm-Etherscan data shows that one of the exchange’s public ETH wallet processed nearly 90,000 transactions on Nov. 13.

BTC withdrawals across exchanges at record high

Glassnode Insights further revealed that the aggregate  BTC balance across exchanges fell by 72,900 BTC over the past seven days –one of the largest net declines in the history of the market. The previous times the crypto industry witnessed this level of withdrawals were during the 2020 bear market and 2022’s Terra LUNA-influenced crash.

BTC Exchange Balance (Source: Glassnode)

Additionally, over 1 million ETH left exchanges over the last seven days. Glassnode noted that this was the largest 30-day decline since the DeFi summer of September 2020, when demand for ETH as collateral in smart contracts was at its peak.

Community stakeholders push for self-custody

Several crypto stakeholders have urged the community to self-custody their assets following FTX’s implosion.

Binance CEO Changpeng Zhao said self-custody was a fundamental human right. CZ advised his followers to start with smaller amounts in order to learn the ropes, as mistakes here can be costly.

“Self custody is a fundamental human right. You are free to do it anytime. Just make sure you do do it right.”

Ethereum educator Anthony Sassano also shared the same view, saying only those actively trading large sizes should have their assets on centralized platforms. He added, “(I) use a select few CEXs as fiat on/off ramps and use Ethereum DeFi for everything else (with self-custody of all of my assets).”

Meanwhile, the new wave of interest in self-custody has sent the value of the Trust Wallet token up by 113% in one week to a new all-time high of $2.48 on Nov. 14. The wallet became more popular after CZ tweeted about it while speaking about the importance of self-custody.

The post Retail traders massively withdraw their BTC from exchanges appeared first on CryptoSlate.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 76220.6 (+0.60%)
Объем 24H $63.933b
Изменеия 24h: 2.18 %, 7d: 7.95 %
Cегодня L: $74544.69 - H: $76220.6
Капитализация $1507.572b Rank 1
Цена в час новости $ 16558.59 (360.31%)

btc retail exchanges traders withdraw massively cold

Источник: cryptoslate.com

btc retail → Результатов: 126


SBI Holdings to Launch Japan’s First Crypto Fund; Including BTC, ETH, DOT, LINK, LTC, XRP & BCH

Japanese financial services company SBI Holdings has announced the launch of Japan's first cryptocurrency fund for retail investors that will invest in seven major crypto assets. These assets include the top two cryptos, Bitcoin (BTC) and Ether (ETH), which are trading under $47k and $4k respectively, along with Polkadot (DOT), Chainlink (LINK), XRP, Litecoin (LTC), […] The post SBI Holdings to Launch Japan’s First Crypto Fund; Including BTC, ETH, DOT, LINK, LTC, XRP & BCH first appeared on BitcoinExchangeGuide.

2021-12-19 18:01


Institutions Making Large Bitcoin Purchases and Driving the Price Up as CME Futures Premium Surges to April Level

Bitcoin is comfortably trading around $54,000 after breaking above $50k earlier this week. According to Glassnode, more than 93. 5% of circulating BTC are currently in profit at this price. Interestingly it’s not just retail and the cryptocurrency industry that is getting excited about Bitcoin yet again.

2021-10-7 15:48


Data: Bitcoin (BTC) adoption grows 1,200% in Africa

The adoption of Bitcoin in Africa has swelled immensely over the past year, making it the third fastest-growing Bitcoin economy globally.  BTC adoption up by 1200% in Africa A report produced by Chainalysis estimated the growth to be over 1,200%, which means there has been an increase in Bitcoin activities carried out by retail investors […] The post Data: Bitcoin (BTC) adoption grows 1,200% in Africa appeared first on CryptoSlate.

2021-9-15 16:00


Фото:

Mexican Billionaire Ricardo Salinas Endorses Bitcoin (BTC), Calls Dollar a Joke

Mexico’s third wealthiest billionaire Ricardo Salinas is a bitcoin (BTC) permabull. Fiat Is a Fraud, Buy Bitcoin Ricardo Benjamin Salinas Pliego, a Mexican billionaire businessman, founder, and chairman of Group Salinas, a group of firms involved in telecom, media, financial services, and retail services recently went on record to call fiat currencies a fraud. TheRead More

2021-6-28 00:02


OKEx Insights + Catallact : Bitcoin Market Witness the Growth of Retail Participation as Institutional Investors Continue to Lead

The flagship cryptocurrency, Bitcoin continues to be the community’s favorite as its value hovers over $50000 while exhibiting strong potential for further growth. The positive sentiment surrounding BTC has increased overall community participation and attracted a lot of institutional investors.

2021-4-26 10:43


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

BitFlyer to acquire FTX Japan for billions of Yens

BitFlyer, a major Japanese exchange, is angling to acquire FTX Japan, a subsidiary of the bankrupt FTX exchange. The exact value of the acquisition hasn’t been made public though it is expected to be billions of yens.