Summary
- It was reported that the exchange holdings of Bitcoin and Ethereum decreased to 7.1% and 4.9%, respectively.
- The decrease in exchange holdings is evaluated as a positive signal for price increases due to reduced supply in the market.
- It was reported that the prices of Bitcoin and Ethereum on Binance increased by 2.10% and 5.14%, respectively.
It has been observed that the exchange holdings of Bitcoin (BTC) and Ethereum (ETH) have significantly decreased.
On the 20th (local time), Cointelegraph reported via X (formerly Twitter) that "Ethereum's exchange holdings have fallen below 4.9% of the total supply," stating "this is unprecedented." It further added, "In the case of Bitcoin, exchange holdings have decreased to 7.1%, marking the lowest level since November 2018."
Typically, the withdrawal of virtual assets from exchanges is evaluated as a positive signal for price increases as it reduces the supply of tradable virtual assets.
As of 6:43 PM, based on Binance USDT market, Bitcoin and Ethereum are trading at $105,360 and $2,530, respectively, with an increase of 2.10% and 5.14% compared to 24 hours ago.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
