• Latest
  • Trending
  • All
  • LATEST NEWS
  • SPONSORED POSTS
  • BANKING
  • Cryptocurrency
  • Job Past Questions
  • PRICE WATCH
  • VIEW POINT
  • ECONOMY
  • Careers
  • Press Release
  • Breaking News
  • education news
  • Personal Finance
  • Networth
Fake Cryptocurrency Mining Apps scam 93K Users into Buying

Research reveals how much BTC Traders are withdrawing from centralized exchanges daily

July 13, 2021
A Comprehensive Guide to the European Union Blue Card

Unlocking Opportunities: A Comprehensive Guide to the European Union Blue Card

August 31, 2024
Naira Redesign Policy Causes Banks' Deposits with CBN to Plummet by 95.82%

Currency in Circulation hits all-time-high Fueling Inflationary Pressures

August 29, 2024
Ecobank Nigeria Launches Oja Oge Pop up Marketplace to Empower SMEs

Ecobank Nigeria Launches Oja Oge Pop-up Marketplace to Empower SMEs

August 28, 2024
inflation Push Over 31 Million Nigerians into Acute Food Shortage

Insecurity and Economic Woes Push Millions of Nigerians into Acute Food Crisis

August 28, 2024
NAFDAC Cracks Down on Use of Unapproved Saccharine in Bread Production

NAFDAC Cracks Down on Use of Unapproved Saccharine in Bread Production

August 27, 2024
Food Prices in Nigeria Soar in July 2024

Food Prices in Nigeria Soar in July 2024: Beans, Eggs, and Yam Lead the Surge

August 27, 2024
Fed Rate Cuts Could Offer Respite for Nigeria’s Naira and Economy

Fed Rate Cuts Could Offer Respite for Nigeria’s Naira and Economy

August 27, 2024
Nigeria's Manufacturing Sector Struggles in Q2 2024

Nigeria’s Manufacturing Sector Struggles in Q2 2024: Growth Slows Amid Economic Challenges

August 27, 2024
Nigeria's Agricultural Sector Shows Modest Growth in Q2 2024

Nigeria’s Agricultural Sector Shows Modest Growth in Q2 2024: Crop Production Remains Key Driver

August 27, 2024
Nigeria's Economy Grows by 3.19% in Q2 2024

Nigeria’s Economy Grows by 3.19% in Q2 2024: Services and Industry Lead the Charge

August 27, 2024
States Share $71 Billion in Seven Years, But Poverty Persists

States Share $71 Billion in Seven Years, But Poverty Persists: What’s Going Wrong in Nigeria?

August 26, 2024
Interest Rate Hikes, Inflation Squeeze Profit Margins for Nigerian Paint Manufacturers

Interest Rate Hikes, Inflation Squeeze Profit Margins for Nigerian Paint Manufacturers

August 26, 2024
  • About
  • Privacy Policy
  • Terms of Use
  • Feedback
  • Advertise
Friday, July 11, 2025
  • Login
Financial Watch
  • HOME
  • Banking
  • ECONOMY
  • VIEW POINT
  • PRICE WATCH
  • CRYPTO WATCH
No Result
View All Result
  • HOME
  • Banking
  • ECONOMY
  • VIEW POINT
  • PRICE WATCH
  • CRYPTO WATCH
No Result
View All Result
Financial Watch
No Result
View All Result
Home Cryptocurrency

Research reveals how much BTC Traders are withdrawing from centralized exchanges daily

by Cynthia Charles
July 13, 2021
in Cryptocurrency
0
Fake Cryptocurrency Mining Apps scam 93K Users into Buying

Fake Cryptocurrency Mining Apps scam 93K Users into Buying

493
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter

Research reveal how much BTC Traders are withdrawing from centralized exchanges daily – On-chain reports by Glassnode yesterday revealed Bitcoins traders are withdrawing daily from centralized exchanges and have noted the number of Bitcoin held on centralized exchanges has consistently fallen since late May.

The report monitored by Financial Watch shows that about 2,000 BTC (worth roughly $66 million at current prices) are been withdrawn from centralized exchanges daily.

Glassnode’s July 12 Week On-Chain report found that Bitcoin reserves on centralized exchanges have fallen back to levels not seen since April, the month that saw BTC blast to its all-time high of roughly $65,000.

The researchers noted that during the Bull Run leading up to this peak, relentless depletion of exchange coin reserves was a key theme. Glassnode concludes that much of this BTC went to the Grayscale GBTC Trust or was accumulated by institutions, driving “a persistent net outflow from exchanges.”

However, when Bitcoin prices slumped in May, this trend reversed as coins were sent to exchanges for liquidation. Now, the net transfer volume has moved back into negative territory again as outflows increase.

“On a 14-day moving average basis, the last two weeks in particular have seen a more positive return to exchange outflows, at a rate of ~2k BTC per day.”

Researchers reveal how much BTC Traders are withdrawing from centralized exchanges daily
Researchers reveal how much BTC Traders are withdrawing from centralized exchanges daily

Net BTC transfer volume to/from exchanges: Glassnode

The report also noted that the proportion of on-chain transaction fees represented by exchange deposits declined to 14% dominance this past week, following a brief peak to around 17% in May.

On-chain fees associated with withdrawals saw a notable bounce from 3.7% up to 5.4% this month, suggesting an increasing preference for accumulation over sales, it added.

The fall in exchange reserves appears to have coincided with an uptick in capital flows to decentralized finance protocols over the past fortnight.

According to DeFiLlama, the total value locked has increased by 21% since June 26 as it climbed from $92 billion to $111 billion.

Tags: Bitcoincentralized exchanges
Share197Tweet123
Previous Post

Hackers behind ransomware attacks have raked in $33M in Bitcoin in 2021

Next Post

Bitcoin price falls under $33K but on-chain data excites BTC analysts

Cynthia Charles

Cynthia Charles

She is a prolific writer and has special interest on writing about business and opportunities. She can be contacted via cynthiaadigwe@financialwatchngr.com

Next Post
Bitcoin price falls under 33K but on chain data excites BTC analysts 5

Bitcoin price falls under $33K but on-chain data excites BTC analysts

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest
Stanbic IBTC launches Africa-China Agent Value Proposition

List of Stanbic IBTC bank Routing Number, sort codes and branches in Nigeria

May 2, 2023
Banks Employ More Contract Staff as full staff continue to dwindle

Nigerian bank employee grades and levels

June 14, 2021
N-power Portal Login npvn.npower.gov.ng/login 2020/2021 – Update Your Account

N-power Portal Login npvn.npower.gov.ng/login 2020/2021 – Update Your Account

November 17, 2020
Zenith Bank2

List of Zenith bank Routing Number, sort codes and branches in Nigeria

May 2, 2023
Union Bank2

List of Union bank Routing Number, sort codes and branches in Nigeria

May 2, 2023
How buy 2019 JAMB 2019 UTME form/ registration PIN online

UTME result: How to Check JAMB Result 2022 – Jamb Result Checker

1333
JAMB Result checker 2020 out | www jamb org ng result checker

Utme 2021: Check JAMB Results Using JAMB Registration Number

1146
List of JAMB Approved CBT Centres In Abia State 2020/2021 | Abia State Jamb Cbt Centres

Jamb Portal 2021: How to check Jamb Results – jamb.org.ng/efacility

523
P Yes registration

www.p-yes.gov.ng – Register For P-YES Progeamme Portal – Apply Now

436
Breaking: JAMB releases more 15,490 UTME results

JAMB Results 2021 Online Checking Steps | www.jamb.org.ng Result

316
A Comprehensive Guide to the European Union Blue Card

Unlocking Opportunities: A Comprehensive Guide to the European Union Blue Card

August 31, 2024
Naira Redesign Policy Causes Banks' Deposits with CBN to Plummet by 95.82%

Currency in Circulation hits all-time-high Fueling Inflationary Pressures

August 29, 2024
Ecobank Nigeria Launches Oja Oge Pop up Marketplace to Empower SMEs

Ecobank Nigeria Launches Oja Oge Pop-up Marketplace to Empower SMEs

August 28, 2024
inflation Push Over 31 Million Nigerians into Acute Food Shortage

Insecurity and Economic Woes Push Millions of Nigerians into Acute Food Crisis

August 28, 2024
NAFDAC Cracks Down on Use of Unapproved Saccharine in Bread Production

NAFDAC Cracks Down on Use of Unapproved Saccharine in Bread Production

August 27, 2024
Financial Watch

Copyright © 2023 Financial Watch.

Navigate Site

  • About
  • Privacy Policy
  • Terms of Use
  • Feedback
  • Advertise

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • HOME
  • Banking
  • ECONOMY
  • VIEW POINT
  • PRICE WATCH
  • CRYPTO WATCH

Copyright © 2023 Financial Watch.