📉 [Analysis] Crypto exchange wallet analysis shows holdings are decreasing - The Block

According to data collected by The Block's Larry Cermak, the balances of exchanges' bitcoin wallets have decreased by an average of 6% since October 2018, which could indicate low levels of investor speculation or that an increasing number of customers are withdrawing their coins from exchange accounts to their own wallets. The research also notes that there are currently approximately 716,000 Bitcoin ($BTC) (4.1 percent of circulation), 7 million Ethereum ($ETH) (6.8 percent of circulation) and 1.2 billion Tether (63.5 percent of circulation) held in the publicly known wallets of crypto exchanges. Furthermore, Coinbase claimed that it had migrated as much as five percent of Bitcoin in circulation and eight percent of all Ethereum during a wallet upgrade last month, and BitMex reportedly holds at least one percent of Bitcoin in circulation meaning that exchanges likely hold at least 10 percent of all Bitcoin.