Data: Bitcoin CEX Deposit Addresses Have Dropped by Over 130,000, Reaching Lowest Level Since 2016
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September 16, 2024
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ChainCatcher reported that CryptoOnchain, an analyst at CryptoQuant, posted a chart on social media showing that the number of Bitcoin exchange deposit addresses has dropped to 132,100, the lowest since 2016. This metric represents the number of addresses sending Bitcoin to exchanges for trading. A lower value indicates fewer investors selling coins on spot exchanges, which could signal a decrease in selling pressure.
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