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Number of Bitcoin on Exchanges Fell by 20% Over the Past Year

Glassnode has divulged information that shows how the number of Bitcoin on centralized exchanges has plummeted by around 20% over the previous 12 months. This would indicate the fact that investors are actively accumulating BTC and stashing it, basically turning them into hodlers.

This also shows the fact that BTC hodlers didn’t get into a panic mood and sell when Bitcoin experienced dips in its price in late February.

The “Hodlwaves” metric from Glassnode looks at the time since coins were last seen moving on-chain. The data was published in late February, and it shows that 57% of the supply of Bitcoin hasn’t been moved for more than a year. More importantly, one-third of that percentage hasn’t been moved in more than five years.

It is hard to tell if those coins belong to long-term hodlers, or if they are simply indicative of a percentage of Bitcoin that has been lost.

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