BTC Supply Drying Up, 6.3% Of Total Bitcoin Supply Left On Exchanges
25 Décembre 2021 - 4:20PM
NEWSBTC
Bitcoin’s circulating supply has fallen near the end of 2021, with
December representing the lowest month on average in years for Btc
supply. 6.3% Of BTC On Exchanges The amount of Bitcoin in
circulation has been falling since the halving in 2020, according
to a new study from CryptoRank, with access to acquire Bitcoin on
exchanges also declining. However, by the second half of 2020
(around October), the supply of Bitcoin on exchanges stood for 9.5%
of the overall quantity. This percentage had declined to 7.3% of
all Bitcoin on wallet exchanges in July 2021, and only 6.% percent
of Bitcoin supply was accounted for on exchange wallets in
December. Since the halving, Bitcoin’s falling supply in
circulation has been on a downward trajectory, with 1.3 million
Bitcoin in circulation. The largest worldwide crypto platforms,
according to CryptoRank’s data, dominate the exchanges where
Bitcoin is kept. However, it’s worth noting that Coinbase, while
still the most popular cryptocurrency exchange in terms of total
Bitcoin held in its wallets, has lost some of its clout throughout
the year. According to CryptoRank, Coinbase used to account for
slightly over 50% of Bitcoin on wallets, but that number has
subsequently decreased to 44.2 percent. Binance has approximately
25% of Bitcoin on exchanges held on its exchange, while Bitfinex is
on the lowest rung with 14.6 percent of Bitcoin on exchanges held
on its exchange. The announcement comes on the heels of a slew of
bullish price indicators that coincide with Bitcoin’s higher price
movement. To begin with, the illiquid BTC supply has iced over for
the winter, with a monthly supply of 100,000 BTC changing from a
“liquid” to a “illiquid” state. Related article | Bitcoin Breaks
$51k Again As 20k BTC Flows Out Of Exchanges Cold Vs. Exchange
Wallets While many investors choose to retain their Bitcoin on
exchanges — a technique known as “hot storage” – there is a risk
that turning over the keys to your Bitcoin to an exchange or
third-party could leave your Bitcoin vulnerable to attack or hack.
If Bitcoin is kept in cold storage or a combination of hot and cold
storage, security procedures are in place to keep it as safe as
possible from hacking. Despite this, Binance CEO Changpeng “CZ”
Zhao has indicated that storing keys on an exchange may provide
more security guarantee. He noted, “Many hardcore crypto ogs
advocate storing your own keys. But the truth is, today most people
are not able to secure a key even from themselves (losing it). A
trusted centralized exchange is #SAFUer for most people. The
numbers speak for themselves.” This is despite Bitcoiners like
Andreas Antonopolous’ best attempts to make “not your keys, not
your Bitcoin” a daily BTC mantra. BTC rising back above $50k.
Souce: TradingView Related article | By The Numbers: Here’s How
Much Bitcoin Michael Saylor Holds Featured image from Unsplash.com,
charts from TradingView.com
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