Less than 12% of the current Bitcoin (BTC) supply is held on exchanges, marking a new low since January 2018, according to Glassnode data analyzed by CryptoSlate.
The chart below demonstrates the BTC balance held on exchanges with the orange line and starts in Jan. 2018, when the balance was just above 10.8%.
BTC balance on exchanges
Exchanges’ BTC reserves grew exponentially between Jan. 2018 and Jan. 2020, when the COVID-19 pandemic started. On Jan. 2020, nearly 18% of all BTC supply was held on exchanges. After that peak, the amount of BTC held on exchanges started to shrink steadily and fell as low as today’s 12%.
Coinbase and Binance
Coinbase and Binance, the two leading exchanges, jointly account for 5.5% of the 12% held in exchanges.
Coinbase
Coinbase’s name has been on the headlines during the past two months for shrinking its BTC reserves. The chart below demonstrates Coinbase’s BTC reserves since mid-September and shows two sharp downfalls.
BTC balance – Coinbas
We współpracy z: https://cryptoslate.com/btc-on-exchanges-fall-to-new-lows-since-2018/
