CEXs See $11 Billion in BTC, ETH Outflows in a Month

IconCryptoNewsTerminal Staff14 Jun, 2024

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CEXs See $11 Billion in BTC, ETH Outflows in a Month

CEXs See $11 Billion in BTC, ETH Outflows in a Month According to Bitcoin.com, the total amount of Bitcoin and Ethereum held on centralized exchanges has dropped by $11 billion in the past month. The amount of Bitcoin in these exchanges has decreased by about $7 billion (105,706 BTC), while the amount of Ethereum has dropped by about $3.7 billion (1.08 million ETH). This trend suggests that investors are increasingly moving their digital assets away from centralized exchanges and into self-custody wallets. This could be due to concerns about the security of centralized exchanges, as well as the desire to take greater control over their assets. Whatever the reason, the outflow of digital assets from centralized exchanges is a significant trend that is likely to continue in the future. As investors become more aware of the risks of holding their assets on centralized exchanges, they are likely to increasingly opt for self-custody solutions.

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