Bitcoin Daily Outflow from Crypto Exchanges Hits All-Time High
Main page News, Bitcoin, Exchange, Cryptocurrency Exchanges

A record number of bitcoin (EXANTE: Bitcoin) withdrawals from cryptocurrency exchanges has been reached on July 8, iHodl Russia has learned, citing Glassnode.

According to the analytical platform, users withdrew 20,660 more bitcoins from exchanges than deposited. This is a record outflow per day in 2020.

Coinbase suffered the most as it lost 20,787 BTC (more than $190 million at the time of writing), which exceeds the average for all exchanges. Other platforms showed a slight increase in the number of deposits.

At the same time, Coinbase had more deposits than withdrawals.

BTC Spot Market Volume Falls 30% in June

However, on average, the outflow amount was higher than the amount of funds deposited by users. It is assumed that a bitcoin whale could trigger such a big outflow of funds.

iHodl previously reported that Coinbase is planning for a stock market listing that could come as early as this year or early next year since the plans are still subject to change.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.

Read also:
Please describe the error