The share of bitcoin on cryptocurrency exchanges has fallen to a minimum since 2018

The share of bitcoin in exchange addresses fell to its lowest level since 2018. Large investors continue to massively transfer assets for long-term storage outside of trading platforms. According to the Santiment analytical platform, the volume of bitcoin on exchanges has remained virtually unchanged in recent weeks, and the dynamics itself indicates increased activity of long-term holders and reduced pressure from sellers.

The picture is somewhat different for airtime. Over the past ten days, its share on the exchanges has slightly increased from 4.2% to 4.6% of the total supply. However, even with this increase, the indicator remains near the historical lows in the entire history of ETH trading, which began in 2015.

At the same time, analysts have recorded a noticeable accumulation of XRP in large wallets. Accounts with a balance of 10 million tokens or more currently control 45.83 billion XRP, which is about 68.5% of the total supply of the coin. This trend of accumulation among large holders has been going on continuously since the end of 2023.

A similar situation is observed in the Cardano network. Wallets with a balance of 1 million ADA coins or more have increased their total reserves to 25.09 billion coins, which is 67.47% of the total supply of the asset, according to Santiment experts. Large players are consistently concentrating more and more market share in their hands.

Against the backdrop of these trends, Mark Yusko, founder of Morgan Creek Capital, is also optimistic. In his opinion, bitcoin has already formed a bottom at $ 60,000, which means that the bearish trend in the cryptocurrency market is over.