In the second half of the year, about 550,000 bitcoins were withdrawn from exchange accounts. As a result, the number of BTC stored on exchanges has decreased to 22% of the total supply.
Over the past 6 months, several events have occurred in the market, which led to the fact that about 550,000 BTC were withdrawn by users from exchange accounts and transferred to cold storage.
According to the analytical company Glassnode, the leaders in the withdrawal of bitcoins were the Binance cryptocurrency exchange, which lost more than 90,000 BTC. About 200,000 BTC were withdrawn from Coinbase, and the FTX exchange lost over 70,000 BTC before the judicial authorities blocked all operations.
As of the end of December, the current BTC reserves held on exchanges account for less than 22% of the total BTC supply. Glassnode analysts note that in January, over-the-counter BTC storage was recorded at about 14 million units, but as of December it exceeded 15 million.
This confirms the conclusions of experts that 78% of working capital in BTC is stored in cold wallets.
