Bitcoin's Inactive Supply Peaks At All-Time High, But One Crypto Exchange Beats The Odds, Sees Inflow

Data from Glassnode indicated Bitcoin BTC/USD holders collecting BTC with exchange holdings are at all-time low levels while the percentage of inactive Bitcoin supply was at all-time highs.

What Happened: Glassnode’s last active chart for Bitcoin supply showed inactive Bitcoin that had not moved from an address for more than 1-, 3- and 5-year time frames touched all-time high levels since July 2023.

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Bitcoin analytics from CoinMarketCap, which tracks wallet addresses by how long they’ve been holding Bitcoin, showed an estimated 69%, or 36.8 million addresses that have held the crypto for more than a year, as reported by CoinTelegraph.

According to CryptoQuant charts, Bitcoin outflows from exchanges reflected a decline from July 2021 levels with just over 2 million Bitcoin remaining on exchanges.

Binance reported outflows of 21,645 Bitcoin in the past 30 days while Coinbase Pro’s saw 3,612 Bitcoin withdrawn from its platform over the last 30 days.

OKX is the only exchange in the Top 10 list that saw a significant inflow of Bitcoin in the past 30 days, with 4,630 Bitcoin being moved onto the platform over the past month.

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BTC Prices Rise: With Bitcoin peaking at $27,000 this week, the coin saw a significant increase in transaction volume last week with reported transactions for Bitcoin reaching almost 703,000. This marks the highest transaction volume in almost two years.

Also Read: Crypto Veteran Investor Predicts Bitcoin Valuation Of $7 Billion Per Coin, Here's How He Thinks This Is Possible

Bitinforcharts data reflected an increase in daily active addresses to a multi-month high of 1.08 million on Sept. 15 from 754,000 reported two years ago. Rapid Bitcoin outflow from exchanges marks a rising trend of holding and potentially making long-term investments in the crypto during this period.

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