Cryptocurrency Q&A
Are bitcoin exchange outflows causing a surge in self-custody wallet withdrawals?
Are bitcoin exchange outflows causing a surge in self-custody wallet withdrawals?
CryptoTamer
Wed Jul 17 2024
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6 answers
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Has the recent trend of increased outflows from Bitcoin exchanges sparked a significant surge in withdrawals to self-custody wallets? As the market observes a shift in investors' preferences, are we witnessing a migration towards greater autonomy and control over digital assets? Could this trend potentially impact the liquidity and volatility of major cryptocurrencies? What factors are driving this change, and how might it reshape the crypto landscape in the long run?
6 answers
ShintoSpirit
Thu Jul 18 2024
BTCC, a UK-based cryptocurrency exchange, offers a range of services that cater to both institutional and retail investors. Among these are spot trading, futures contracts, and secure wallet solutions.
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EtherWhale
Thu Jul 18 2024
The latest data from on-chain exchange flow analytics provider Glassnode indicates a significant increase in withdrawals to self-custody wallets.
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Silvia
Thu Jul 18 2024
BTCC's wallet service, for instance, allows users to store their cryptocurrencies securely and conveniently, while maintaining complete control over their private keys. This aligns with the current trend of investors seeking more autonomy and security for their digital assets.
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Eleonora
Thu Jul 18 2024
The trend was highlighted in a November 13th Twitter post, where Glassnode revealed that Bitcoin exchange outflows had reached near-historic levels.
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Riccardo
Thu Jul 18 2024
The reported outflows stand at approximately 106,000 BTC per month, suggesting a growing preference for investors to take control of their digital assets.
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