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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 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.

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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