After seeing several centralised exchanges compromised, and with safety and security in mind, investors are pulling their crypto off of exchanges at a record rate.
The crypto flight to safer venues is a trend that is being seen across the board, with investors leaving exchanges, many of them choosing to self-custody their own crypto assets.
Contagion fears
Probably the most notable reason for the flight is that of contagion fears after the FTX collapse. Many institutional as well as retail investors would certainly be eyeing exchanges with far more caution now, especially given that the FTX run also came on the back of several crypto lending platforms that went into bankruptcy, further exacerbating the problem of scarce liquidity.
Large bitcoin outflows
In a report on Investment Week, CryptoCompare is quoted on the amount of cryptos leaving exchanges. For the month of November, 91,557 bitcoins worth nearly $1.5 billion left exchanges that included Binance, Kraken, and Coinbase.
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We współpracy z: https://cryptodaily.co.uk/2022/12/investors-pull-crypto-from-exchanges-at-record-rate
