A difficult moment to pass ? – While Bitcoin and altcoins are at the heart of a bull market , exchange platforms see their BTC melt like snow in the sun. 2020 might even have been the worst year for centralized exchanges.
643,000 BTC soared in 2020
Throughout 2020, we have followed a récurren phenomenon t , namely the disappearance of BTC exchange platforms .
Thus, during the year 2020 the exchanges saw the number of BTC they held decrease by 643,929 BTC , or more than 23 billion dollars at the current price . As a result, the BTC holdings of the exchange platforms fell by 21% over this period.
The number of BTCs held by exchanges plummet in 2020 – Source: Glassnode .
Although this phenomenon has been observed most of the year 2020, the months of November and December will have seen a quieter period.
However, this was not of long duration and by December 29 the phenomenon was back. Thus, between December 29 and January 2, 80,000 additional BTC left the exchange platforms .
The day of January 2 was particularly rough with 37,000 BTC removed from trading in a single day .
Volume of net flows in 2020. In green the incoming flows, in red the outgoing flows – Source: Glassnode.
Not everyone knows the crisis
While the vast majority of exchange platforms are affected by this phenomenon, an irreducible Chinese exchange is resisting the debacle.
Thus, unlike the competition, the exchange platform Binance saw its number of BTCs held explode in 2020 . In practice, the platform recorded an increase of 29% over the year 2020 , from 243,035 BTC held to 313,482 BTC .