Crypto exchange users have withdrawn 23,540 Bitcoins ($214M) after the crypto's halving experienced on May 11, Cointelegraph has reported quoting analysis company Glassnode.
Over the two months following the crash of the crypto market in March, the balance of Bitcoins in exchange wallets dropped from 2,634,574 to 2,332,524.
Experts believe this could be a sign of the beginning of a bullish trend. If users actually intended to sell these Bitcoins, they would have left them where they were. However, they are probably moving them to non-custodial wallets in order to store them for the long term in a more secure way.
On March 12 crypto trading platforms received one of the largest inflows of Bitcoins in history. Thus, in just one day they received about 40,000 Bitcoins.
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