CryptoQuant analyst @AxelAdlerJr posted data on social media saying that the number of addresses depositing bitcoin to exchanges has been steadily declining since 2022: the 30-day moving average has now fallen to 52,000 addresses, while the 365-day average is 71,000 addresses. Meanwhile, over the past 10 years, the most common distribution has been around 92,000 addresses, and the current number of addresses is equivalent to December 2016 levels.
This trend is bullish in itself, as investors have reduced bitcoin sales by a factor of four over the past three years. Essentially, this represents a growing hold (HODL) sentiment that significantly reduces selling pressure, setting the stage for further growth.
CryptoQuant Analyst: The number of addresses depositing bitcoin to exchanges has been steadily decreasing since 2022
2025-04-24 06:38:30
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