450K BTC moved to cold storage in 2022

Glassnode information analyzed by CryptoSlate shows that 450,000 Bitcoin (BTC) held connected an speech oregon a blistery wallet earlier 2022 person been moved to acold retention passim the year.

In the past 12 months, the marketplace has seen aggregate achromatic swan events that led to astir 550,000 BTC abandoning exchanges’ reserves. On much than 1 occasion, these reserves shrunk successful large chunks. Binance, for example, lost 90,000 BTC successful 7 days successful Dec, FTX mislaid 70,000 BTC successful 2 weeks successful June, and finally, Coinbase lost 200,000 BTC wrong 4 days successful November.

The orangish enactment successful the illustration beneath represents the full BTC magnitude held connected crypto exchanges since the opening of the year.

BTC equilibrium connected exchanges / Source: Glassnode

The exchanges started the twelvemonth with conscionable beneath $2.8 cardinal successful BTC and ended with astir $2.25 million, which equals a driblet of astir 20%. The existent BTC reserves held connected exchanges equate to little than 12% of the full BTC supply.

Self custody

This twelvemonth besides witnessed implicit a cardinal BTC entering self-custody. The orangish enactment connected the illustration beneath shows the illiquid BTC proviso level, which draws an expanding line.

Illiquid BTC proviso was recorded arsenic 14 cardinal successful January and supra 15 cardinal successful December. This besides indicates that 78% of the circulating BTC proviso is held successful acold storage.

Illiquid BTC proviso / Source: Glassnode

Considering that lone 550,000 BTC near the exchanges passim 2022, it tin beryllium said that the remaining 450,000 BTC was moved from exchanges oregon blistery wallets to acold retention successful 2021 and the years prior.

The station 450K BTC moved to acold retention successful 2022 appeared archetypal connected CryptoSlate.