Only 1.3 Million Bitcoin Still Circulating on Crypto Exchanges

According to new data from CryptoRank, only 6% of the total supply of Bitcoin still circulates in exchange wallets, Cointelegraph reports.

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The latest figure, 6%, is the lowest on record this year.

However, the low supply has been an ongoing trend, linked to the Bitcoin block reward splitting in two in 2020. In October 2020, exchange wallets already held only 9.5% of Bitcoin’s supply, and That number dropped even further to 7.3% last July. .

The American cryptocurrency exchange Coinbase has also seen its place fall dramatically. While it once held more Bitcoin than all other exchanges combined, it now only holds 40.65% compared to a previous figure of 50.52%.


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