š How will the decline in Bitcoin and Ethereum reserves affect the trend of self-custody and market development?
šAccording to the latest data from Cryptoquant.com, the Bitcoin reserves of centralized exchanges have fallen to the lowest point since November 2018! š Since July 11, nearly 100,000 Bitcoins have been withdrawn, which is a big move worth $6 billion!
š Now, there are only more than 2.67 million Bitcoins left in these exchanges, which is worth $161 billion based on the price on August 11! In addition, Ethereum is similar, from the high of 35.44 million in 2020 to only 16.8 million now.
š¤ What does this mean? Does it mean that everyone has started to keep their own cryptocurrencies? Will this bring a long-term rise in our currency prices?
š¬Some people believe that the decline in the reserves of Bitcoin and Ethereum in centralized exchanges indicates that investors are increasingly inclined to self-custody to enhance the control and security of their assets. This change may push the market towards a more decentralized and secure direction.
š¤·At the same time, as self-custody becomes a trend, market liquidity and trading patterns may change. Investors need to adapt to this new market environment to ensure that they have the ability and awareness to properly manage their assets.
šFor the market price of Bitcoin, this trend may mean that everyone is increasingly optimistic about the storage value of Bitcoin and cryptocurrencies, which also helps the market value to develop towards a stable and healthy form.
š°From a market perspective, the reduction in reserves may mean that the market has increased confidence in its value storage function, which helps to drive the stable appreciation of market prices!
š¬ What do you think? Do you think self-custody is a trend? What impact will this have on our investment? Comment your opinion in the comment section!
