$728 Million Worth of Bitcoin Outflows from Centralized Exchanges in the Past Week
CryptoNewsTerminal Staff06 Sep, 2024
$728 Million Worth of Bitcoin Outflows from Centralized Exchanges in the Past Week
According to IntoTheBlock, a foremost provider of on-chain analytics, there has been a remarkable outflow of Bitcoin (BTC) from centralized exchanges (CEXs) within the past week. The total amount of BTC withdrawn clocks in at a staggering $728 million. This development suggests a growing trend of users withdrawing their BTC from exchanges and taking custody of it in their own private wallets. This trend can be attributed to several factors, including the recent market volatility and concerns over the security of CEXs. As the cryptocurrency market continues to mature, it is likely that this trend will only continue to accelerate. Users are becoming increasingly aware of the importance of controlling their own private keys and taking responsibility for the security of their digital assets.
