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At the moment, about 1.3 million bitcoins are listed on exchanges, the CryptoRank team said in a statement. This volume of cryptocurrency accounts for 6.3% of the total BTC market supply.
In October last year, the exchange balance of bitcoin was 9.5% of the supply of digital currency. Already in July 2021, this figure dropped to 7.3%, then the decline continued.
Coinbase holds the first place among the trading platforms in terms of the number of placed bitcoins. Her wallets hold 583,000 coins.
Binance comes in second with 329,000 bitcoins. Bitfinex closes the top three with 193,000 BTC.
In the long term, a reduction in the exchange balance of a cryptocurrency should contribute to an increase in the value of an asset. The Glassnode platform also pays attention to the decline in coin supply.
The influx of digital currency to marketplaces has been falling over the past few weeks. Investors are less and less likely to send coins to exchanges and prefer to store them in offline wallets.
On Friday, December 24, Bitcoin is trading at $ 50,900. BTC was unable to hold above $ 51,000, although it tried to do so several times during today’s session. A rebound will be inevitable if the $ 50,000 mark has transformed from a resistance zone into a support zone, analysts say.
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