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Roughly 1.1M Bitcoin has left exchanges since March 2020

The amount of Bitcoin on exchanges hit an all-time-high in March 2020 at 3.2 million BTC; however, more than 1 million BTC has left exchanges.

James Van Straten
Feb. 9, 2023 at 11:39 am UTC
1 min read
Updated: Feb. 9, 2023 at 12:13 pm UTC

Definition

The total amount of coins held on exchange addresses.

Quick Take

  • Bitcoin (BTC) held on exchanges hit an all-time high of 3.2 million BTC in March 2020.
  • However, 1.095 million BTC has been moved off exchanges in the 35 months since then — accelerated by the collapse of Terra LUNA and FTX in 2022.
  • Roughly 600,000 BTC was taken off exchanges during 2022 alone.
  • The total BTC balance on exchanges stands at 2.2 million BTC as of Feb. 9 — equating to roughly 11.7% of the Bitcoin circulating supply on exchanges.
Exchange Balance: (Source: Glassnode)
Exchange Balance: (Source: Glassnode)
Analyst View profile
James Van Straten
James Van Straten
Former Lead Analyst CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.

Disclaimer: Our writers' opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.

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