๐๐ Cryptoquant Insights: Exchange Reserves & Bitcoin Holdings ๐๐
Cryptoquant, a leading blockchain data analysis company, shared key findings on exchange reserves and Bitcoin (BTC) holdings, shedding light on recent trends:
๐ Non-US CEX Holdings Surge: Bitcoin holdings on non-US centralized exchanges (CEX) have impressively surged by over 10% in the past year, showcasing growing interest and confidence in BTC.
๐บ๐ธ US-Based Exchanges: In contrast, BTC holdings on US-based exchanges like Coinbase, Gemini, and Kraken have seen a decrease of 30-50% in the same period.
๐ผ Institutional Demand: Cryptoquant notes that institutions are actively acquiring BTC, which is reflected in the ongoing decline in exchange reserves. Notably, a significant withdrawal of 27,000 BTC from Gemini in August, representing 25% of total withdrawals, was observed.
๐ Derivatives Volume & ATH: The derivatives trading volume has shown remarkable growth, with BTC open interest reaching an all-time high (ATH) since November 2022.
These dynamics illustrate the evolving landscape of Bitcoin ownership and trading, shaped by both institutional demand and changing preferences across global exchanges. ๐๐๐ #BitcoinHoldings #ExchangeReserves #CryptoTrends