Insights

Roughly 1.1M Bitcoin has left exchanges since March 2020

exchange68September 13, 2024

0 1 1 minute read

Definition

The total amount of coins held on exchange addresses.

Quick Take

Bitcoin (BTC) held on exchanges hit an all-time high of 3.2 million BTC in March 2020.
However, 1.095 million BTC has been moved off exchanges in the 35 months since then — accelerated by the collapse of Terra LUNA and FTX in 2022.
Roughly 600,000 BTC was taken off exchanges during 2022 alone.
The total BTC balance on exchanges stands at 2.2 million BTC as of Feb. 9 — equating to roughly 11.7% of the Bitcoin circulating supply on exchanges.

Analyst

James Van Straten

Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century’s paramount invention.

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