BTC and ETH Exchange Supply Dries Up
According to Santiment, BTC’s supply on exchanges has fallen to 7.1% for the first time since November 2018. Over the last five years, there has been 1.7 million less BTC on crypto trading platforms.
Similarly, ETH now has less than 4.9% of its supply on crypto exchanges for the first time in more than 10 years. It also has 15.3 million fewer coins on trading platforms over the last five years.
A shrinking supply of a certain cryptocurrency on exchanges often means a decline in assets available for immediate sale. This also means that investors are more confident and are moving their assets to cold storage for long-term holding, with the expectation of future price appreciation.
