According to the data, the downward trend in the amount of Bitcoin (BTC) held on cryptocurrency exchanges continues. The amount of Bitcoin on exchanges has declined to the levels seen in 2018.
On-chain analysis platform Santiment shared on Twitter that as of October, Bitcoin outflows from stock markets have increased significantly. According to the data, the total supply in circulation is only 8.7%Pointing out that . 2018 He stated that it was equivalent to the level seen in the previous year.
In addition, the amount of Ethereum on the exchanges The Merge increased with the update. This is interpreted as the reason why many exchanges provide good returns for the Proof of Stake (PoS) system. The amount of Ethereum held on exchanges is equal to the circulating supply. 14.5%forms the .
According to commentators, manipulative movements in the stock market supply of the two leading cryptocurrencies are linked to increased whale activity on the cryptocurrency market. As previously mentioned by Santiment Whale wallets with assets between 100 and 10,000 BTCcumulatively in the first week of October 46,173 BTC added more.
on the Ethereum side manipulative It is thought that the mobility may similarly be linked to the large number of Ethereum entering and exiting the exchanges.
