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Bitcoiny o łącznej wartości 38 miliardów dolarów opuściły giełdy kryptowalutowe od lutego 2020 r. 

Bitcoin totaling $38 billion has left crypto exchanges since February 2020.

Naga Markets


Bitcoin totaling $38 billion has left crypto exchanges since February 2020. Analytics firm Glassnode revealed that the supply of bitcoin on crypto exchanges has been in a continuous downtrend since early 2020 as many users started withdrawing BTC at an astonishing pace.

Bitcoin must face the problem of diminishing supply

Glassnode informed its 368,300 Twitter followers that 617,000 bitcoins, currently worth $37.97 billion, have moved from cryptocurrency exchanges within 20 months.

According to the company, the balance of bitcoin on exchanges shrank from 3.09 million BTC ($190.01 billion) in February 2020 to 2.47 million BTC ($152.02 billion) in October 2021, down 20% in less than two years.

The balance of bitcoin held on exchanges continued to decline this week. Balances dropped to 2.47 million BTC, back to levels last seen in August 2018. As of February 2020, the average outflow rate was 30,850 BTC per month. Glassnode Books.

Bitcoin Balance on Cryptocurrency Exchanges, Source: Glassnode
Bitcoin Balance on Cryptocurrency Exchanges, Source: Glassnode

Glassnode is also keeping a close eye on the measure of change in Bitcoin exchange net position, which tracks the 30-day change in the supply of BTC held in cryptocurrency exchange wallets. According to the company, the outflows continued throughout 2021, with the exception of May, June and July.

The current outflow is around 22,000 BTC ($1.35 billion) per month, or about 71% of the long-term average recorded above (30,850 BTC). We read later in the report.

Bitcoin: A measure of net position change, Source: Glassnode
Bitcoin: A measure of net position change, Source: Glassnode

Looking at long-term holders of cryptocurrencies (also known as LTHs, or long-term holders) or entities that have kept BTC dormant for at least five months, the cryptocurrency analytics firm claims that the aforementioned group of investors has accumulated bitcoins over the past seven months with a total value of $148.95 billion.

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Bitcoin: total supply held by long-term holders, Source: Glassnode
Bitcoin: total supply held by long-term holders, Source: Glassnode

During the extraordinary accumulation period since March, LTH added 2.42 million bitcoins to its wallets – We read at the end of the Glassnode report.

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