BTC and ETH Supply Plunges On Crypto Exchanges

On the other hand, USDT’s supply on crypto exchanges reached 24.1%, an all-time high since March.

While the market is recovering from last year’s devastation, the recent report from the market intelligence platform Santiment disclosed the plunging supply of Bitcoins and Ethereum on crypto exchanges amid the growing sentiment of holding.

At the time of writing, respectively, 5.9% and 8.5% of the total supply of Bitcoin and Ethereum are available on crypto exchanges, according to Sanbase

On the flip side, the presence of the largest stablecoin, USDT, on the crypto exchange has impressed the community as it has grown impressively in the last few months. According to the data, around 24.1% of the total USDT supply is available on crypto exchanges, the highest since March.

As major cryptocurrencies like BTC and ETH are struggling to control price movement and following consolidation, crypto holders are more inclined to HODL it. 

Also Read: Bitcoin Exchanges Hit 3-Year Low in Supply

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