{"id":509771,"date":"2022-11-14T07:11:31","date_gmt":"2022-11-14T04:11:31","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/exchange-outflows-hit-historic-highs-as-bitcoin-investors-self-custody\/"},"modified":"2022-11-14T07:11:31","modified_gmt":"2022-11-14T04:11:31","slug":"exchange-outflows-hit-historic-highs-as-bitcoin-investors-self-custody","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/exchange-outflows-hit-historic-highs-as-bitcoin-investors-self-custody\/","title":{"rendered":"# Exchange outflows hit historic highs as Bitcoin investors self-custody"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a4140933abcf\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a4140933abcf\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/exchange-outflows-hit-historic-highs-as-bitcoin-investors-self-custody\/#%E2%80%9D_Exchange_outflows_hit_historic_highs_as_Bitcoin_investors_self-custody_%E2%80%9C\" >&#8221; Exchange outflows hit historic highs as Bitcoin investors self-custody &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Exchange_outflows_hit_historic_highs_as_Bitcoin_investors_self-custody_%E2%80%9C\"><\/span>&#8221; Exchange outflows hit historic highs as Bitcoin investors self-custody &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvZDQwMDkwNWItZjdhZS00NTgyLWI4NGEtZjBlM2RhMjdmM2FmLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-e13e51fa>Bitcoin (BTC) investors have been increasingly moving their holdings to self-custody solutions following the collapse of the world\u2019s second-largest crypto exchange last week.<\/p>\n<p>On-chain exchange flow data is <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/glassnode\/status\/1591943265296998400\">showing<\/a> a surge in withdrawals to self-custody wallets, according to analytics provider Glassnode.<\/p>\n<p>In a Nov. 13 post on <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a>, Glassnode reported that Bitcoin exchange outflows had hit near historic levels of 106,000 BTC per month.<\/p>\n<p>It added that this has h<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ened only three other times \u2014 in April 2022 and November 2020, as well as in June\/July 2022. It also reported that the number of Bitcoin wallets receiving the asset from exchange addresses surged to around 90,000 on Nov. 9.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Following the collapse of FTX, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> investors have been withdrawing coins to self-custody at a historic rate of 106k <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a>\/month.<\/p>\n<p>This compares with only three other times:<br \/>&#8211; Apr 2020<br \/>&#8211; Nov 2020<br \/>&#8211; June-July 2022<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/92aYVYU4Yt\">https:\/\/t.co\/92aYVYU4Yt<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/em7CsDBWUf\">pic.twitter.com\/em7CsDBWUf<\/a><\/p>\n<p>\u2014 glassnode (@glassnode) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/glassnode\/status\/1591943265296998400?ref_src=twsrc%5Etfw\">November 13, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>Exchange outflows are usually a bullish sign that BTC is being hodled for the long term. However, in this scenario, it appears to be the result of loundering confidence in centralized crypto exchanges.<\/p>\n<p>Glassnode commented that outflows have resulted in \u201cpositive balance changes across all wallet cohorts, from shrimp to whales,\u201d before adding:<\/p>\n<blockquote><p>\u201cThe failure of FTX has created a very distinct change in #Bitcoin holder behavior across all cohorts.\u201d<\/p><\/blockquote>\n<p>Since Nov. 6, when the FTX fiasco began, balance changes have increased across all BTC wallet sizes with \u201cshrimps\u201d that have less than one coin increasing by 33,700 BTC. Whale wallets with more than 1,000 coins have seen an increase of 3,600 BTC indicating that the self-custodian push is happening across the board.<\/p>\n<p>Industry leaders are now starting to advocate self-custody solutions as the phrase \u201cnot your keys, not your coins\u201d bears more weight than ever before.<\/p>\n<p>On Nov. 13, Ethereum educator Anthony Sassano<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/sassal0x\/status\/1591721672432037888\"> said<\/a> that crypto holders shouldn\u2019t be storing their assets on centralized exchanges unless their actively trading large amounts.<\/p>\n<p>MicroStrategy\u2019s Michael Saylor told Cointelegraph in an interview that self-custody prevents centralized third parties from abusing their power.<\/p>\n<p><strong><em>Related:<\/em><\/strong><strong><em> <\/em><\/strong><strong><em>$740M in Bitcoin exits exchanges, the biggest outflow since June&#8217;s BTC price crash<\/em><\/strong><\/p>\n<p>Glassnode also reported that stablecoins, many of which destabilized last week, have been flowing onto exchanges at increased rates over the past week. <\/p>\n<p>Nov. 10 saw more than $1 billion in stablecoins arriving on centralized exchanges. The total stablecoin reserve across all exchanges it tracks reached a new all-time high of $41.2 billion, it added.<\/p>\n<p>\u201cThe echos of the FTX collapse will likely act to reshape the industry across many sectors, and shift the dominance, and preference for trustless vs centrally issued assets,\u201d it concluded.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/exchange-outflows-hit-historic-highs-as-bitcoin-investors-self-custody\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Exchange outflows hit historic highs as Bitcoin investors self-custody &#8220; Bitcoin (BTC) investors have been increasingly moving their holdings to self-custody solutions following the collapse of the world\u2019s second-largest crypto exchange last week. On-chain exchange flow data is showing a surge in withdrawals to self-custody wallets, according to analytics provider Glassnode. In a Nov&#8230;.<\/p>\n","protected":false},"author":1,"featured_media":509772,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvZDQwMDkwNWItZjdhZS00NTgyLWI4NGEtZjBlM2RhMjdmM2FmLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,75819,74860,75917],"class_list":["post-509771","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-wallet","tag-cryptocurrency-exchange","tag-exchanges"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/509771","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=509771"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/509771\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/509772"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=509771"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=509771"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=509771"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}