Bitcoin exchange balance decreased by 5% in 2022

by in Cryptocurrency News

Bitcoin exchange balance

According to the Glassnode platform, the number of bitcoins on exchanges is now at its lowest level since August 2018.

The decrease in the BTC exchange balance is observed against the backdrop of a decrease in the value of the cryptocurrency. On Tuesday, April 19, Bitcoin is trading at $40,732.

In 2022, the number of coins listed on the trading floors decreased by 5% (138,266 BTC) to 2,449,785 BTC. More than 20,000 coins left the exchanges last week alone. The trend towards long-term savings continues to dominate.

The Blockware Solutions report says:

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We are witnessing a phase of active accumulation. The exchange outflow is similar to the periods after March and December 2020 and September 2021.

Analysts do not exclude that we are on the eve of the next bitcoin run. A decrease in the volume of cryptocurrency on exchanges eases the pressure on the asset, as its supply decreases.

The reserves of hodlers holding BTC for more than a year have risen to 63.7% of the total cryptocurrency supply.

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Whales have become more actively involved in the game, emphasized in Blockware Solutions. Last week, the largest investors purchased more than a thousand coins - this is the largest weekly increase in whale reserves since January.