Summary
- It said small-ticket retail inflows of Bitcoin (BTC) into major crypto exchanges have fallen to the lowest level in nine years.
- It reported that the 30-day moving average of small inflows of less than 1 BTC into Binance is around 332 BTC, the lowest level since 2017.
- Darkfost said this trend suggests the possibility of increasing centralization of Bitcoin ownership and analyzed that spot Bitcoin exchange-traded funds (ETFs) are accelerating it.
Forecast Trend Report by Period
Small retail inflows of Bitcoin (BTC) into major crypto exchanges have fallen to their lowest level in nine years, according to data. The slowdown in retail activity and the possibility of a shift in the funding mix are being raised.
On the 3rd (local time), CryptoQuant contributor Darkfost said in a recent analysis that retail inflows, measured as small-ticket funds of less than 1 BTC, have declined sharply. The metric is calculated based on small Bitcoin inflows into Binance.
He said, "The 30-day moving average of small inflows has fallen to around 332 BTC," adding, "This is the lowest level since Binance launched in 2017."
He went on to explain that "small-ticket investment activity can be seen as having almost disappeared."
Compared with the past, the decline is even more pronounced. As of January 2024, the monthly average Bitcoin amount flowing into Binance from retail investors was around 1,000 BTC—about three times the current level.
Darkfost analyzed that this trend could be related to changes in Bitcoin’s holding structure. He said, "This trend suggests Bitcoin ownership may be becoming more centralized," adding that "spot Bitcoin exchange-traded funds (ETFs) are accelerating this trend."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
