Bitcoin balance on trading platforms reaches its lowest level in 4 years
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Answer Bitcoin balance on trading platforms reaches its lowest level in 4 years
Bitcoin is currently experiencing some stability.
Bitcoin managed to reclaim the $23,000 level after losing nearly 70% of its value in the past eight months.
Amid the recent market recovery, the balance of bitcoin on the leading digital trading platforms has plummeted.
According to Glassnode, the balance of bitcoin in exchanges reached 2.37 million bitcoin on Friday, the lowest level since July 2018.
Coinbase has suffered the most in the recent decline in the balance of Bitcoin.
In July 2022, Binance became the largest cryptocurrency exchange by Bitcoin balance.
Currently, the bitcoin price is still above $23,000 after a jump of nearly 2%.
Institutional interest in digital assets has increased in the past few days.
In the last week of July 2022, Bitcoin investment products saw $85 million in inflows.
So far this year, Bitcoin investment products have attracted $326 million in inflows, compared to $314 million in outflows from Ethereum products.
Earlier this week, BlackRock, the world’s largest investment management firm, partnered with Coinbase to expand its presence in the growing crypto market.
On the new partnership, Larry Fink commented:
The move shows how far the industry has come.
Now, BlackRock is opening the door for institutions to access bitcoin through the Aladdin product.
Read:Representatives of the bankrupt lending firm Celsius Network called by federal prosecutors
Aladdin was developed in 1988 and aims to clarify investment processes to institutions.
In 2020, Aladdin handled $21.6 trillion in assets, more than 4% of the world’s wealth.
Currently, Aladdin users have access to and exposure to Bitcoin.
Read also:
The CEO of Binance provides clarification details about Binance’s relationship with the “WazirX” ​​platform
The price of Ethereum against Bitcoin reaches its highest level in 3 months
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