Bitcoin supply at exchanges, lowest level since February 2018 | CoinDesk JAPAN | Coin Desk Japan

Bitcoin (BTC) supply on cryptocurrency exchanges has fallen to its lowest level since February 2018, according to data from blockchain data firm Santiment.

The past week has seen a big drop after the U.S. Securities and Exchange Commission (SEC) sued major exchanges Binance and Coinbase for offering unregistered securities to U.S. customers. 6.4% of supply left the exchange.

#Bitcoin‘s exchange supply has now fallen to its lowest level since February, 2018. Traders continue moving $BTC to self custody during the uncertainty surrounding #Binance & #CoinbaseAs long as these #SEC lawsuits loom, this trend should continue. https://t.co/CBOxJ8oA07 pic.twitter.com/c7MQyMswgp

—Santiment (@santimentfeed) June 14, 2023

The data show that supply has been steadily declining since 2020, when it peaked at the bottom of what was then a bearish market. This suggests that traders and investors continue to take Bitcoin out of exchanges in favor of self-management.

｜Translation: coindesk JAPAN
｜Editing: Toshihiko Inoue
｜Image: Shutterstock
｜Original: Bitcoin Supply on Exchanges Slides to Three-Year Low