Mystery and Rubber – The debacle continues for centralized trading platforms. This is because their BTCs have only disappeared throughout 2020, and the trend continues with 7% less BTC in a month.

172,000 BTC soared

We have been following this phenomenon for several months now: trading platforms are witnessing a significant flight of capital .

Between January and October 2020, they lost 14.4% of the BTC they held .

This phenomenon continued throughout the month of November, with the withdrawal of an additional 172,000 BTC , between October 12 and today.

In total, 7% of their BTC was lost in just over a month . This leads to a provisional negative annual balance sheet of around -18.2% since the start of 2020.

https://journalducoin-com.exactdn.com/wp-content/uploads/2020/11/glassnode-studio_bitcoin-balance-on-exchanges-all-exchanges-5.png?lossy=1&quality=66&w=1920&ssl=1
Fall in the number of BTCs held by exchanges – Source: Glassnode

The phenomenon calms down for Ethereum

Although Ethereum has been the victim of the same phenomenon for several consecutive months, it seems to be slowly running out of steam .

For the first time since August, the number of ETH held by exchange platforms began to “stabilize” in November.

Since the beginning of November, the exchanges have lost 355,000 ETH . However, the majority of this loss occurred between the 1st and 5th of the month. Since November 5, the number of ETH held has remained around 15.8 million ETH .

https://journalducoin-com.exactdn.com/wp-content/uploads/2020/11/glassnode-studio_ethereum-balance-on-exchanges-all-exchanges-6.png?lossy=1&quality=66&w=1920&ssl=1
Evolution of ETH held by exchanges since January 2020 – Source: Glassnode

In comparison, that’s the equivalent of $ 3 billion in BTC that soared against “only” $ 166 million in ETH. Exchanges have not finished having cold sweats!

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