100k Bitcoin Withdrawn from Exchanges Post Halving
CryptoNewsTerminal Staff10 Jun, 2024
100k Bitcoin Withdrawn from Exchanges Post Halving
10x Research, a crypto market analytics firm, reported that "In the past month, approximately 100,000 BTC ($6.75 billion) has been withdrawn from exchanges, with the majority of the outflows coming from Kraken (~55,000 BTC withdrawn) and Coinbase (~24,000 BTC withdrawn)". It further added that post the Bitcoin halving, stablecoin issuance has dropped significantly, with a decline in the number of wallets holding more than $10 million worth of stablecoins. This trend suggests that investors are moving their funds out of exchanges, potentially indicating a shift away from short-term trading and towards long-term holding.
