1. In 2022, more than 20% of Bitcoin was withdrawn from exchanges, surpassing 2020’s withdrawal rate of over 10%.
2. Currently, there are 2.26 million Bitcoin still stored on exchanges, amounting to 11-12% of the Bitcoin supply.
3. Many events such as the Luna and FTX collapses triggered the exodus of Bitcoin from exchanges.
The crypto world has been abuzz about the amount of Bitcoin that has been withdrawn from exchanges in the past year. In 2022, more than 20% of Bitcoin was withdrawn from exchanges, surpassing 2020’s withdrawal rate of over 10%. This is a significant event for the crypto space, as it shows that more and more people are taking control of their own coins, instead of relying on exchanges to store them.
Currently, there are 2.26 million Bitcoin still stored on exchanges, amounting to 11-12% of the Bitcoin supply. This is a significant decrease from the same time last year, showing that more people are taking their Bitcoin off exchanges and into their own wallets. This is an encouraging sign for the crypto community, as it shows that more people are becoming savvy about the security of their coins.
Many events have triggered this exodus of Bitcoin from exchanges. The Luna and FTX collapses were two significant events that caused many people to lose trust in exchanges and take their coins into their own wallets. Additionally, the increasing awareness of the phrase “not your keys, not your coins” has caused more people to take control of their own coins, rather than trusting exchanges to store them.
All in all, the amount of Bitcoin withdrawn from exchanges in 2022 is a sign of progress for the crypto community. More people are taking control of their own coins, and this is a positive development for the security of the crypto space. As more people become aware of the phrase “not your keys, not your coins”, it is likely that more Bitcoin will be withdrawn from exchanges in the future.
