The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Amount of Bitcoin Sitting on Crypto Exchanges at Lowest Level in Nearly Six Years: Analytics Firm Santiment

by Daily Hodl Staff
August 28, 2023
in Altcoins, Bitcoin, Trading

New data from crypto analytics firm Santiment reveals that the supply of Bitcoin (BTC) on crypto exchanges is at its lowest point in over half a decade.

According to the market intelligence firm, only 5.8% of the crypto king’s overall supply is currently sitting on crypto exchange platforms, the lowest level since December 2017.

Santiment also notes that the top crypto asset by market cap is seeing decent amounts of Bitcoin whale activity.

“Just 5.8% of Bitcoin is currently sitting on exchanges, which is officially the lowest level crypto’s top market cap asset has seen since December 17, 2017. We are also continuing to see reasonable amounts of BTC whale transactions (57,400 per week).”

Source: Santiment/X

Santiment also says that Bitcoin is currently in the lead in terms of being the digital asset with the highest amount of address activity.

BTC is followed by the stablecoin Tether (USDT), smart contract platform Ethereum (ETH), layer-2 blockchain Polygon (MATIC) and BTC alternative Litecoin (LTC), which all have at least more than double the number of active addresses compared to other cryptocurrencies, according to Santiment.

Source: Santiment/X

Bitcoin is trading for $26,001 at time of writing.

Moving on to Ethereum, the market analytics firm says that the 10 largest addresses associated with the leading altcoin are now holding a staggering 35% of ETH’s overall supply.

According to Santiment, the increase in the holdings of large addresses is likely due to smaller investors capitulating their positions out of fear, doubt and uncertainty (FUD) surrounding the latest crypto market dip.

“The 10 largest addresses on the Ethereum network are now holding over 35% of the available supply. By no means does this mean the [second-largest] asset in crypto is suddenly centralized, but it shows the capitulation of smaller traders showing FUD from this dip.”

Source: Santiment/X

At time of writing, Ethereum is worth $1,649.

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Sensvector/lassedesignen

Submit a Press Release

Industry Announcements

  • Ottochain Homage to EVMOS and Ethereum Layer Two
    September 21, 2023
  • Algorand Foundation Announces Build-a-Bull Hackathon in Collaboration With AWS
    September 20, 2023
  • OKX Achieves SOC 2 Type II Certification, Demonstrating Its Industry-Leading User Safety, Security and Compliance Standards
    September 20, 2023
  • Meme Fans Eye El Hippo (HIPP) As Floki Inu (FLOKI) Price Dips
    September 19, 2023
  • Dexalot Unveils SimpleSwap and SimpleView Features for Enhanced User Experience
    September 19, 2023
  • Xsolla Launches Mall, an Online Destination for Video Games
    September 18, 2023
  • BlockchainSpace Debuts Polygon-Based Community Rewards Platform, YEY, With Philippine Telco Giant at FIBA 2023
    September 14, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$26,538.11
$26,538.11
0.25%
Ethereum
$1,591.50
$1,591.50
0.12%
Cardano
$0.243571
$0.243571
1.09%
XRP
$0.512
$0.512
0.8%
Dogecoin
$0.061363
$0.061363
0.05%

Spotlight

  • Analyst Who Nailed 2022 Crypto Bottom Unveils New Long Position on Bitcoin – Here Are His Targets
    September 15, 2023
  • Top Trader Says He’s Reaccumulating One Solana-Based Altcoin That’s Up Over 500% in Three Months – Here’s Why
    September 15, 2023
  • Bitcoin Primed To Surge Over 70% in 2015-Style Price Jump, Says Michaël van de Poppe – Here’s the Timeline
    September 15, 2023
  • Trader Says Bitcoin Just Flashed a ‘Great Sign’, Predicts One Top-10 Altcoin Will Go Parabolic in Coming Months
    September 15, 2023
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Covering the future of finance, including macro, bitcoin, ethereum, crypto, and web 3.

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash • Financeflux •
Industry Announcements

 

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2023 The Daily Hodl