Right After The Halving, Users Withdrew More Than $230 Million From BTC Exchanges
The analytical agency Glassnode informs users withdrew from the exchanges almost 24 thousand bitcoins (about $233 million) the next day after the halving.
In the hours before and after #Bitcoin's halving, exchange net flow decreased significantly.
So far, the event has had no impact on 2020's trend of investors withdrawing $BTC from exchanges.https://t.co/KqezAI9HsM pic.twitter.com/ClCdYJ90wG
— glassnode (@glassnode) May 13, 2020
Users began actively withdrawing their coins from cryptocurrency sites back in April, this process slowed down just a few hours before the halving and then began at a new pace.
Trading volumes on cryptocurrency exchanges decreased by a quarter last month, the same situation was with the traffic of most centralized platforms.
Recall, the volume of trading on decentralized exchanges is growing quite rapidly, for example, this figure reached $2 billion in the first four months of this year. Here is a decrease in people's trust in centralized sites.
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