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Amid an exceptionally bullish period for the majority of assets in the cryptocurrency sector, Bitcoin (BTC) is performing particularly well, as it has already surpassed a price mark at $52,000, and its amount on crypto ex change s suggest more gains in the future. As it happens, the amount of Bitcoin held in crypto wallets on known digital asset exchanges has dropped to its lowest level in six years, according to the recent information shared by renowned crypto trading analyst Ali Martinez in an X post published on February 14. Specifically, as per the chart patterns analyzed by the crypto expert, this amount stood at just 2.34 million BTC on February 13, dropping significantly over the last week and suggesting a “growing trend of investors moving their BTC off ex change s, potentially indicating a shift toward long-term holding.” Bitcoin on known exchanges. Source: Ali Martinez On the other hand, Martinez also earlier warned that a technical Analysis (TA) indicator that has ofte...

On-chain data and ETH price charts are beginning to hint at a possible rally to $3,000. Ethereum’s on-chain movements indicate bullish pressure building around Ether as its exchange balances reached an all-time low and staking deposits keep surging.  Ether’s (ETH) technical charts suggest that the asset can reclaim $3,000 if buyers are able to push above the resistance between $1,900 and $2,000. ETH held on exchanges hits an all-time low Exchange balances for ETH reached a new low of 12.6%, dropping sharply in the last 30 days, according to Glassnode data. Reduced supply on exchanges is usually a bullish sign, as it means fewer tokens are readily available for selling. Percentage of ETH’s supply on crypto exchanges. Source: Glassnode The netflow volume of deposits and withdrawals from exchanges shows a steep surge in withdrawals at the start of June amid a regulatory crackdown on Binance and Coinbase. The data should be taken with a grain of salt, as withdrawals were caused by inv...

OPNX exchange has quipped about its earlier low trading volume before experiencing a big surge in volume during the last 24 hours. Open Exchange (OPNX) has claimed to have experienced a massive surge in trading volume and has joked about its dismally low volume on its opening day. According to an April 10 tweet by OPNX, its day one trading volume on April 4 hit a total of $13.64 but has since apparently seen a surge to $12,398 on April 9, an increase of over 90,000%. We're thrilled to announce a significant increase in trading volume at OPNX! On day 1, our volume was a hard-fought $13.64. Today on day 5, it has surge d to a magnificent $12,398. That's a remarkable percentage increase of over 90,000%. We are incredibly proud of our team's hard… pic.twitter.com/0rG9F28xzl — OPNX (@OPNX_Official) April 10, 2023 However, new data suggests the trading volume has seen a far bigger increase during the last 24 hours. According to CoinGecko data, OPNX’s 24-hour trading v...

Data analytics firm Glassnode, hardware provider Trezor and Bitcoin exchange Relai observe an uptick in Bitcoin self-custody. The bear market has inspired the little guy to accumulate vast amounts of Bitcoin (BTC).  The number of wallets holding 1 BTC or more recently hit new highs while those with 10 BTC or less are setting accumulation records. However, to what extent are these newly minted “wholecoiners” taking custody of their private keys? Has the recent spate of insolvency among centralized exchanges (CEX) encouraged Bitcoin enthusiasts to move their Bitcoin into cold storage, removed from third party risk? For Checkmate, lead analyst at Glassnode, the data would point to this result. Checkmate told Cointelegraph, “Overall looks like, at least a short-term, movement towards self-custody. Partly out of concern for CEX solvency.” “Last few weeks have been the largest monthly decline in exchange balances in history, peaking at 177.9k BTC/month in withdrawal volume.” He also shared...

Based on Merkle Tree’s proof model, exchanges can prove whether the assets held by each user are included in the exchange reserves, but this scheme still has flaws. Written by: Babywhale, Foresight News Original Link: https://foresightnews.pro/article/detail/18550 In February 2019, Bitcoin and blockchain infrastructure company Blockstream published a blog post titled “ Standardizing Bitcoin Proof of Reserves ,” which explained how to self-certify the Bitcoin reserves of institutions such as exchanges and control over those reserves. Blockstream initially researched the scheme to prove to auditors the Bitcoin reserves on the Bitcoin sidechain Liquid Network, and later developed into a specification for Bitcoin Proof of Reserves. Before Blockstream, the variety of verified schemes made it difficult for users to understand the reserves of each exchange. Additionally, there is a risk of funds being stolen during the transfer of assets in signed transactions due to the need to verify owne...