Data: The reserves of the US cryptocurrency exchange BTC have fallen to levels seen in 2017

2023-06-11 21:50:04

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According to ChainCatcher news, a report by CryptoQuant shows that due to regulatory uncertainty, the BTC reserves of U.S. crypto exchanges have fallen to levels seen in 2017, and 56% of ETH is held outside the United States. Meanwhile, regions like the EU and Hong Kong are experiencing an influx of capital, talent, and digital asset companies.

Additionally, the trading volume of international cryptocurrency exchanges is four times that of U.S. platforms, and Bitcoin's dominance in the U.S. spot trading volume has dropped below 2017 levels, currently at 21%. The report adds that U.S. exchanges have little exposure to the perpetual futures trading market, which has a trading volume 11 times that of spot trading, as companies are not allowed to offer this service. In contrast, the spot and futures trading volume in Asia has increased by 30% and 20%, respectively. (Source link)

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