Thursday, February 29, 2024
HomeBusinessJust 1.3 million Bitcoin left circulating on crypto exchanges By Cointelegraph

Just 1.3 million Bitcoin left circulating on crypto exchanges By Cointelegraph

Date:

Related stories

The Business Of Living Longer: Longevity Supplements On The Rise

Humans have always sought ways to extend their lease...

Are You Planning to Buy a Skirting Board? Read this Before You Do

Are you thinking about changing the interior of your...

Comprehensive Guide to Pest Control in Sunshine Coast

Welcome to our complete manual for pest control Sunshine...

Exploring the Connectivity of The Continuum In Singapore

Have you ever imagined stepping out of your house...

How Important Is a Savings Account for Students?

In the financial maturity process, the important component for...


© Reuters.

In glad tidings for an orange Christmas, (BTC) supply is drying up to lows not seen for years. In a recent tweet by CryptoRank, just 6.3% of the total Bitcoin supply, or 1.3 million BTC, is held on cryptocurrency exchanges.

The decreasing supply is nothing new, trending down since the Bitcoin halving in 2020 when the BTC block reward was cut in two. BTC availability on exchanges followed suit, slowly trending down over the past year. Exchange wallets accounted for 9.5% of the BTC supply in October 2020, just before the 2020 Christmas all-time highs, and 7.3% in July this year. The 6.3% December figure is the lowest recorded in 2021.