More than $ 220 million worth of Bitcoin withdrawn from cryptocurrency exchanges since halving

In mid-April news.Bitcoin.com reported on a large number of BTC removed from cryptocurrency trading platforms and after the third BTC In half, the trend has recovered again. Glassnode's Bitcoin Exchange network flow statistics data show that around 24,000 BTC It has been withdrawn since May 11. Additionally, Bituniverse exchange booking data statistics indicate the same thing, but withdrawals only affect certain exchanges.

Bitcoin withdrawals from Crypto Exchange increased before halving, while Tether increased

Recently, the BTC The blockchain has seen its reward in half and several observers are monitoring the network's health. The price rose slowly, and the overall hashrate lost a touch of hashing power, but nothing drastic like some skeptics predicted. It should also be noted that the strap (USDT) market briefly overshadowed XRPIt is May 12, and the global supply of stable parts has crossed a valuation of $ 10 billion. USDT The markets show that the stable valuation of the strap market is $ 5.74 billion, more than half of the valuation of all existing stable parts. After bitcoin (BTC) midway through May 11, a number of users moved around 24,000 BTC ($ 222 million) from centralized trading platforms, Bitcoin Exchange Glassnode Network Flow Statistics.

In mid-April, news from Bitcoin.com took advantage Glassnode Facts

, statistics of Chain.infoand Bituniverse BTC the reservation also counts. This information shows that most of the movement came from specific exchanges and not from the best dog. For example, Coinbase always has the most reservations in BTCand the reserves have stayed about the same. Huobi saw around 20K BTC departure from April 12. Bitfinex and Bitmex have also seen decent amounts of bitcoin withdrawn since then. Bitfinex was around 205K BTC in bookings in mid-april and today, there are only 134K left today. Bitmex was around 228K BTC and on March 13, 2020, the reservation data now shows 214K BTC. Bitstamp was 66K BTC April 12, 2020, but today has an extra twist, with 71K BTC according to Bituniverse data.

Of course, this caused several larger exchanges, in order of enumerating the reserves, to move positions. Bitmex and Bitfinex are down several notches since January 1, 2020. The top five cryptocurrency trading platforms today, after the third BTC

halved, includes Coinbase, Huobi, Binance, Okex and Bitfinex. Glassnode statistics show $ 200 million left some of the major cryptocurrency exchanges after May 11, but much more BTC It has been withdrawn since mid-April. Glassnode Wednesday too tweeted that the Bitcoin Exchange Net-Flow decreased slightly, before halving and also after the event. Glassnode wrote:

In the hours before and after Bitcoin's halving, the net exchange flow has dropped considerably. Up to now, the event has had no impact on the tendency of investors to withdraw in 2020. BTC of exchanges.

The millions of people who have left the trade since mid-April were far more important than the key test day started by Trace Mayer, who really didn't mean much. Additionally, just like in the mining industry, trade sees a massive power shift and those that were once mega-exchanges are being replaced by new entrants. Coinbase, however, has long held its # 1 spot and still has 1 million BTC in reserves, according to data from Bituniverse and Chain.info.

What do you think of all BTC removed from trade? Let us know in the comments below.

Image credits: Shutterstock, Pixabay, Wiki Commons, Glassnode, Bituniverse, Chain.info/exchanges

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