Bitcoin (BTC) and Ethereum (ETH) Withdrawals Surge: Unraveling the Crypto Exchange Exodus
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- Bitcoin and Ethereum, the two largest assets by market capitalization, are witnessing a decline in their availability on exchanges.
- Despite the decrease in availability on exchanges, the number of holders continues to increase, indicating sustained interest and adoption.
- Both Bitcoin and Ethereum are turning profitable, with more supplies leaving exchanges.
Recent data reveals a decline in the availability of Bitcoin and Ethereum on exchanges, despite an increase in holders and profitability.
Decrease in Bitcoin and Ethereum on Exchanges
Analysis of the Bitcoin and Ethereum Balance on Exchange metric by AMBCrypto indicates a decline in the availability of these assets on exchanges. Interestingly, Ethereum’s balance on exchanges has experienced a more pronounced decrease compared to Bitcoin. According to data from Glassnode, the ETH balance on exchanges has plummeted by nearly 6% from March 2023 to the present. Conversely, the BTC balance on exchanges has seen a milder decline of almost 2% in the same period.
