Bitcoin in Exchanges at 3-Year Low as Whitepaper on 13th Year

Bitcoin Balance Low in Binance Exchange
  • The amount of bitcoins circulating on cryptocurrency exchanges is at a 3-year low.
  • This means that most bitcoins are in hot or cold wallet storage.
  • Satoshi Nakamoto published the Bitcoin whitepaper on October 31, precisely 13 years ago.

The total amount of bitcoins that are circulating among cryptocurrency exchanges is at a 3-year low. According to blockchain analytics platform Arcane Research, the number of bitcoins at the time of posting are less than 2.5 million.

This means that most bitcoins are kept in hot or cold wallet storage. Basically, those who are holding most bitcoins are either not selling the coin. Unfortunately, some may have lost their keys to their wallet indefinitely.

Arcane Research added,

“Historically, a decrease in exchanges balance has been a bullish signal, since it implies that the supply immediately available for selling is getting smaller.”

Meanwhile, the still-mysterious Satoshi Nakamoto published the Bitcoin whitepaper on October 31, exactly 13 years ago. Interestingly, the first fully-fledged cryptocurrency was virtually worthless back in the day and was only popular among IT geeks and money revolutionaries.

At the time of writing, Bitcoin price is at $61,480.47, according to CoinGecko.

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