Only 6.95% of BTC’s supply remains on exchanges

FlavienNovember 28, 2022

Less than a minute

Only 6.95% of BTC's supply remains on exchanges

According to analytics firm Glassnode, over $2.8 billion in BTC were withdrawn from exchanges in the past month. For the first time since November 2018, there is only 6.95% of the Bitcoin supply on exchanges. This shows further distrust from investors into the exchanges after the collapse of now-bankrupt exchange FTX. As shown on Coinmarketcap, the interest in cold wallet solution as risen, the Trust Wallet token price doubled since.
Earlier this month, other analytics firm Santiment declared that the market usually thrives when people are off the exchanges.

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FlavienNovember 28, 2022

Less than a minute

Flavien

Greetings, I go by the name of Flavien - a devoted supporter of cryptocurrency and a tech aficionado who has been keeping track of the developments in the world of blockchain and digital currencies since 2019. The potential of decentralized digital currencies to revolutionize our financial systems has captivated me, and I'm constantly exploring the most recent trends and advancements in this ever-evolving industry. As a content creator for Krypto Channel, my aim is to deliver informative and engaging articles that shed light on all aspects of the crypto world. Whether you're a seasoned investor or simply curious about blockchain technology, I am here to keep you updated on the latest happenings and trends. Being part of this lively and dynamic community is an honor, and I am thrilled to share my passion for cryptocurrency and blockchain with all of you.