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Insights
US Bitcoin ETFs surpass $100 billion, pose challenge to largest Bitcoin holders Bitcoin surges to $97k as market leverage hits historic $63 billion Memecoin revival drives Solana DEX Raydium past Tether in fees Ethereum falls to 4-year low against Bitcoin as BTC breaks above $94k Bitcoin ETFs record over $1 billion inflow in 2 days as new price peak boosts investments
Roughly 1.1M Bitcoin has left exchanges since March 2020 Roughly 1.1M Bitcoin has left exchanges since March 2020 James Van Straten · 2 years ago
Insights Bitcoin

Roughly 1.1M Bitcoin has left exchanges since March 2020

The amount of Bitcoin on exchanges hit an all-time-high in March 2020 at 3.2 million BTC; however, more than 1 million BTC has left exchanges.

James Van Straten / @jvs_btc / Feb. 9, 2023 at 11:39 am UTC

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.
Exchange Balance: (Source: Glassnode)
Exchange Balance: (Source: Glassnode)
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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In this insight

Bitcoin BTC (24h)
$98,932.54 +3.08%
Vol: $104.73B MCap: $1.96T

Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.

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Glassnode

Analytics, Research Company in Europe

Glassnode brings data intelligence to the blockchain and cryptocurrency space.

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