The on-chain analytics firm CryptoQuant has discussed how the Bitcoin market has changed during the past year. Bitcoin Has Been Going Through Some Changes Recently In a new post on X, CryptoQuant has broken down the changes that the cryptocurrency’s landscape has observed recently. The first would be that the US-based exchanges have been registering withdrawals, while the global platforms have seen growing holdings. The relevant on-chain indicator here is the “exchange reserve,” which keeps track of the total amount of Bitcoin stored inside the wallets of a centralized exchange or a group of exchanges. First, here is a chart that shows the trend in this metric for the foreign platforms: Looks like the value of the metric for these platforms is steadily going up | Source: CryptoQuant on X The above graph shows that the Bitcoin exchange reserves for Binance, Bitfinex, and OKX have increased during the past year. In total, the indicator’s value for these non-US platforms has increased by 10% in this period. This increase would naturally suggest that these exchanges have seen net ..
Support the originator by clicking the read the rest link below.
