After halving, users withdrew $ 230 million from bitcoins from exchanges

Nearly 24,000 BTC (about $ 233 million at the current exchange rate) were withdrawn by users from exchanges after a halving on Monday, May 11. Such data leads the analytical company Glassnode.

The trend of the outflow of bitcoins from exchanges began in April, the process slowed down only in the hours around the halving of the block reward.

In April, trading volumes on exchanges fell by 25% compared to the previous month. Also, traffic on most sites dipped significantly.

Against this background, the turnover on non-custodial decentralized exchanges for four months of 2020 reached $ 2 billion and almost equaled the figure for the entire last year.

Earlier, Glassnode noted that since the previous halving, the main parameters of the Bitcoin network have grown multiple. For example, the number of cryptocurrency owners has reached 30 million, which is 234% more than in 2016.

Read what you need to know in order to mine bitcoins in a special project of ForkLog magazine.

Subscribe to Forklog Facebook News!

Found a mistake in the text? Highlight it and press CTRL + ENTER

subscribe to news Forklog

.

Leave a Comment