Throughout May, the cryptocurrencyย market has remained steady, with a valuation just over the $1 trillion mark. Inย theย previous 30ย days, both Bitcoinย (BTC) and ethereum prices have remained relatively stable. Nonetheless, recent data outlines a wholeย lotย of amount of Bitcoinย (BTC) has been withdrawn from exchanges, with 43,301 BTC, valued at $1.16 billion, leaving centralized platforms of trading in the past 30ย days. A large number of major digitalย currency exchanges have seen a wholeย lotย of outflow of Bitcoinย (BTC), reportsย by data.
Exchanges Experience Cryptocurrency Exodus Regardlessย of Steady Market
As of May 21, 2023, centralized cryptocurrency exchanges held $57.29 Billion worth of Bitcoinย (BTC), equivalent to 10.99 percent of the leading digitalย currencyโs marketย cap. Nonetheless, since the collapse of FTXย Tradingย Ltd on November 5, 2022, a wholeย lotย of amount of BTC has been withdrawn from exchanges. Prior to this event, Cryptoquant data shows centralized platforms of trading held 2.5 Million bitcoin. In the past 30ย days alone, 43,301 BTC, valued at over $1.16 billion, have left these platforms.
Reportsย by data recorded by coinglass.com, Binanceย Cryptoย exchange asย ofย now holds the largest Bitcoinย (BTC) reserve, with a balance of 555,435 on Sunday evening. Nonetheless, inย theย previous 30ย days, the exchange has experienced an outflow of approximately 10,102 BTC. Coinbaseย Cryptoย exchange comes in Second place with 486,630 Bitcoinย (BTC) in reserves, and saw a modest increase of around 316 BTC in the past 30ย days. Bitfinex, the third largest exchange in terms of BTC holdings, likewise experienced a slight increase of around 339 BTC during the same period.
Itโs worth mentioning that Binanceย Cryptoย exchange and Bitfinex hold the top two spots for the largest Bitcoinย (BTC) wallets, reportsย by BTCโs rich list metrics. The rich list data outlines that the Top 10 wallet holders control 5.37 percent of BTCโs supply, with two of them being Binance-controlled wallets. In the past 30ย days, Okx has seen 2,842 BTC leave its platform, and Geminiโs Bitcoinย (BTC) reserve stash has lost 1,958 BTC. Kraken likewise experienced an outflow of 823 BTC in the past month.
Alongย with Bitcoinย (BTC), Cryptoquant data shows centralized cryptocurrency platforms of trading have likewise experienced a wholeย lotย of outflow of ethereum leaving their exchanges inย theย previous 30ย days. Just 30ย days ago, exchanges held 16.60 Million ether, but today that number hasย dropped to around 16.26 Million. Thisย implies that approximately 340,000 ether, valued at $613.71 Million, has left exchanges in the theย previousย 30ย days alone. Andย once combined with the outflow of Bitcoinย (BTC), $1.77 Billion of the top two digital assets has left these platforms.
