Bitcoin exchange balance in 2022 reduced by 5% Glassnode:

Bitcoin exchange balance in 2022 reduced by 5% Glassnode:

The Glassnode platform estimates that the number of Bitcoins on exchanges is now at its lowest level since August 2018.

The decline in the BTC exchange balance is seen as the value of the Cryptocurrency declines. On Tuesday, April 19, Bitcoin is trading at $40,732.

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

A report from Blockware Solutions said:

Analysts do not rule out that we are on the cusp of another Bitcoin run. The Cryptocurrency’s declining volume on exchanges is easing pressure on the asset as its supply decreases.

Hoarders holding BTC for more than a year rose to 63.7% of the Cryptocurrency’s total supply.

Whales have become more active in the game, Blockware Solutions stressed. Last week, major investors bought more than a thousand coins, the largest weekly increase in whale reserves since January.

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Written by Renat
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