Recent data issued by Glassnode states that investors have been moving their BTC actively and that crypto exchanges seem to be losing their status as the most popular locations for crypto storage.
BTC active supply surges to new ATH
As per Glassnode’s recent tweet, the active Bitcoin supply has surged over the past three months and hit a new all-time high of 1,698,181.749. This value was last measured on January 20.
This seems logical ahead of the next Bitcoin halving, which is to take place in less than a month with the expected date being May 12.
📈 #Bitcoin $BTC Active Supply 1m-3m (1d MA) just reached a 3-month high of 1,698,181.749— glassnode alerts (@glassnodealerts) April 13, 2020
Previous 3-month high of 1,693,697.090 was observed on 20 January 2020
View metric:https://t.co/zuEFeQYl2M pic.twitter.com/FEe2UYqzY1
The number of wallets containing more than one Bitcoin has also surged over the weekend and now it amounts to 803,335.000.
Number of BTC exchange deposits drops
Glassnode also reports another decline in the number of crypto exchange deposits in Bitcoin over the past three years. On April 13, it reached a new all-time low – 777,333.
The previous time this index was measured was August 2, 2017 – four months before BTC reached its all-time high of $20,089.
📉 #Bitcoin $BTC Number of Exchange Deposits (1d MA) just reached a 3-year low of 777.333— glassnode alerts (@glassnodealerts) April 13, 2020
Previous 3-year low of 794.917 was observed on 02 August 2017
View metric:https://t.co/bVBW8vAA2s pic.twitter.com/mBZFMs9HWC
BTC dominance index goes down
Twitter user @im_goomba has shared a chart showing that Bitcoin dominance has dropped and might see another decline soon.