According to a Bitcoin percent balance chart for centralized exchanges, Bitcoin is exiting centralized exchanges. Specifically, it looks like there is only 11.5% of existing Bitcoin that is present on centralized exchanges.
Read CRYPTONEWSLAND onIn detail, a crypto enthusiast shares their findings on a CryptoCurrency discussion channel on Reddit. According to this post, we see how the percentage of Bitcoin is at its lowest level since the start of 2018.
The crypto enthusiast goes on to analyze what this information could mean. In particular, they believe it could mean at least three possibilities. Firstly, they say this could mean that many crypto traders and investors have finally learnt a hard lesson.
This is the lesson of practicing self-control. That is, many have taken a breather and decided to hold instead or buy or trade. Secondly, it could mean that many investors, be it private or institutional, are all accumulating instead of trading.
Thirdly, it could simply mean that most investors are starting to prefer DeFi over CeFi. This may be the reason why decentralized exchanges are gaining more liquidity and popularity over centralized exchanges. At least for more experienced traders who have learnt more over the last couple of years.
Overall, this sign of low Bitcoin amount on centralized exchanges is a very good sign in the humble opinion of this crypto enthusiast. To highlight, he also stresses that this post is not about igniting or spreading FOMO. After all, he states that these numbers could change quickly as it only takes a few minutes to move Bitcoin into exhcanges.
Responses to the post are very positive from other crypto Redditors. Most show their approval for self-custody and agree that it is the best option to hold crypto. Meanwhile, some mention how they continue to put a dent to the centralized Bitcoin reserves with their DCA strategies.
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