Beginner Why long-term crypto holders borrow against assets instead of selling A strategic guide to liquidity management, capital preservation, and the real tradeoff between selling and borrowing crypto Open guide 
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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.
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.
