Six-Year Low: Crypto Exchanges Hold Smallest Bitcoin Reserves, Reveals Santiment

Santiment, a crypto analytics firm, has unveiled fresh data indicating that Bitcoin’s supply on crypto exchanges has hit a six-year low. 

Merely 5.8% of the total Bitcoin supply is presently held on exchange platforms, marking its lowest point since December 2017. The analytics firm further highlights significant Bitcoin whale activity, with 57,400 weekly transactions. Notably, Bitcoin leads the charts in terms of address activity. Followed by Tether (USDT), Ethereum (ETH), Polygon (MATIC), and Litecoin (LTC). Shifting focus to Ethereum. Santiment reports that the ten largest addresses associated with the altcoin now control an impressive 35% of its overall supply. This accumulation by larger addresses is attributed to smaller investors succumbing to fear, doubt, and uncertainty (FUD) during the recent market dip.

Clever Robot News Desk 29^th August 2023