Only 1.3 Million BTC Left on Crypto Exchanges

Written By Guest User

  • A recent tweet by CryptoRank, a market data aggregation and analytics platform, indicates that cryptocurrency exchanges only hold 6.2% of Bitcoin’s circulating supply.

  • These updated figures suggest that the vast majority of Bitcoin is held off of exchanges, where out of the 18.9 million BTC circulating, only 1.3 million is held on exchanges.

  • A previous update in July 2021 from CryptoRank indicates that 7.3% of all circulating BTC was stored on exchanges. A comparison between the two figures indicates that about 200,000 BTC has been taken off of exchanges in the 5 month time period.

  • It is hypothesized that as more Bitcoin is removed off of exchanges there is a sense of induced scarcity, where there is less Bitcoin available for purchase and sales. If demand remains the same but availability decreases, the valuation of the asset could increase over time.

Guest User
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