{"id":58973,"date":"2022-03-20T12:29:03","date_gmt":"2022-03-20T10:29:03","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=58973"},"modified":"2025-09-04T19:30:58","modified_gmt":"2025-09-04T16:30:58","slug":"bitcoin-supply-on-centralized-exchanges-hits-its-lowest-since-2018","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitcoin-supply-on-centralized-exchanges-hits-its-lowest-since-2018\/","title":{"rendered":"Bitcoin supply on centralized exchanges hits its lowest since 2018"},"content":{"rendered":"

Bitcoin supply on centralized exchanges fell to 2.51 million coins, a fresh low not seen since November 2018. Data from Glassnode<\/a> show.<\/p>\n

\"Bitcoin
Dynamics of Bitcoin balances on centralized exchanges. Data: Glassnode<\/a>.
<\/figcaption><\/figure>\n

The outflow of BTC from centralized trading platforms to more secure non-custodial wallets<\/a> may indicate that market participants favour long-term investment strategies.<\/p>\n

Another possible reason is the sanctions against Russia, under which several crypto exchanges blocked accounts of users in the region. With a view to safeguarding their assets, the latter prefer to control private keys themselves.<\/p>\n

Major platforms such as Binance and Kraken said they would not block customers from Russia unilaterally, but would comply with requirements from global regulators.\u00a0<\/p>\n

Earlier, Binance ceased processing cards issued by Russian sanctioned banks. The company also blocked transactions<\/a> with Visa and Mastercard cards issued in Russia.<\/p>\n

A similar trend is observed for the second-largest cryptocurrency. Ethereum supply on centralized platforms fell to 21.6 million ETH, a fresh low since September 2018.<\/p>\n

\"Ethereum
Ethereum balances on centralized exchanges. Data: Glassnode<\/a>.
<\/figcaption><\/figure>\n

Meanwhile, the share of ETH locked in DeFi protocols remains fairly high. In October 2021 the figure topped above 28% \u2014 now it stands at 27.55%.<\/p>\n

\"Share
Share of ETH supply engaged in smart contracts. Data: Glassnode<\/a>.
<\/figcaption><\/figure>\n

According to CoinGecko<\/a>, Bitcoin rose 7.7% and Ethereum 13.5% over the past seven days. At the time of writing, the first asset trades near $41,860, the second near $2,925.<\/p>\n

In March 2022, Elon Musk stated that, in anticipation of rising inflation did not plan to sell<\/a> the Bitcoin, Ethereum and Dogecoin he owns.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin supply on centralized exchanges fell to 2.51 million coins, a fresh low not seen since November 2018.<\/p>\n","protected":false},"author":1,"featured_media":58974,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1166,46],"class_list":["post-58973","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-centralized-exchanges-cex","tag-ethereum"],"aioseo_notices":[],"amp_enabled":true,"views":"35","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/58973","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=58973"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/58973\/revisions"}],"predecessor-version":[{"id":58975,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/58973\/revisions\/58975"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/58974"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=58973"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=58973"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=58973"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}