Despite the rising price of bitcoins, we are still witnessing a large outflow of bitcoins from digital currency exchanges. Intra-chain data show that exchanges are being emptied like sieves, and in the last 30 days, more than 87,954 bitcoins have been withdrawn from large exchanges.
To Report Bitcoin Bitcoin, in December 2019, the number of bitcoins in the large US exchange of coins was close to one million units. This number reached 969,000 in January 2020 and reached its highest point in February of the same year (February), 973,000 units.
But over the past year, not only CoinBase, but also many other popular digital currency exchanges have seen users withdraw large amounts of Bitcoin. Coin Base, which held nearly one million bitcoins in February last year, now holds only 805,000 bitcoins.
Significant amounts of the top multi-exchange bitcoins in terms of bitcoin reserves have declined dramatically. This includes exchanges such as Hobby, Bainance, Cracken, Okex, Bitfinx and Bitflyer. In the last month, 84,558 bitcoins have been withdrawn from Coin Base, 5,715 bitcoins from Okex and 2,599 bitcoins from Hobby.
The statistics of the largest digital currency exchanges in terms of bitcoin reserves until January 3, 2021 (December 14, 1999) are: Coin Base with more than 37, Hobby with 10.8, Bainance with 10.2, Bitfinx with 8.9 and Cracken with $ 6.6 billion in bitcoins.
According to viewbase, about 87,954 bitcoins have been withdrawn from centralized exchanges in the past month, with a total value of about $ 2.8 billion at the current price of bitcoin. In the last seven days alone, 72,727 bitcoins and 5,885 bitcoins entered the exchanges on Sunday (January 5th).
Out of a total of 5,885 bitcoins, 3,456 units have been transferred to Bainance Exchange and 1,070 units to Bitfinx Exchange.
These data suggest that more people are withdrawing their bitcoins from centralized exchanges in order to store them in an unsafe manner. If more people keep their assets unsafe, it will be beneficial for the entire crypto community; This is because the assets held in exchange offices are prone to major thefts.
Another theory is that bitcoin whales are now pursuing a new strategy, unlike in the past, when dumping large quantities of bitcoins into exchange offices to dump the price of small investor bitcoins at a low price; By taking bitcoins out of the market and reducing liquidity in exchanges, they want to prevent others from being able to get more bitcoins.