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Bitcoin Withdrawals From Exchanges Reach All-Time Highs

By Simon LawsonNovember 24, 20221 Min Read
Bitcoin Withdrawals From Exchanges Reach All-Time Highs
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According to the latest report from the blockchain analysis company Glassnode, Bitcoin BTC 3.06% is currently flowing out of exchanges at a rate of -172,700 bitcoins per month.

It surpassed the previous peak created after the sell-off in June 2022. The total number of confirmed Bitcoin transactions has also risen over the past two weeks, reaching multi-month highs with 246,000 confirmed transactions per day.

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Of this total, approximately 29.2% were exchange-related withdrawals (77,100 withdrawals) and 18.2% were exchange deposits (48,100 deposits).

This burst of exchange-related activity pushed the dominance of exchange withdrawals to 47.4%, the highest level so far this year.

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DISCLAIMER: The information provided by WebsCrypto does not represent any investment suggestion. The articles published on this site only represent personal opinions and have nothing to do with the official position of WebsCrypto.
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Simon Lawson
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Simon Lawson has been a professional financial reporter for 6 years. He has in-depth research on the crypto industry and will release major crypto news in a timely manner.

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