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EXCHANGE OUTFLOW HIT HISTORIC HIGH AS BTC INVESTORS SELF-CUSTODY

BY SKOPE • JANUARY 6, 2023

A new report from Arcane Research shows that BTC outflow from exchanges hit a
historic high in 2020 as investors increasingly self-custody their
cryptocurrency. The report notes that the outflow is primarily attributable to
large institutional investors and whale accounts, as they seek to avoid
potential hacks and scams associated with centralized exchanges. While the
report paints a bullish picture for Bitcoin, it also highlights some of the
challenges faced by exchanges in the current market environment. To know more
extensive information about bitcoin trading, visit this website.

EXCHANGE OUTFLOW HIT HISTORIC HIGH AS BTC INVESTORS SELF-CUSTODY

In the past 24 hours, BTC has seen an influx of over $1.5B worth of BTC being
withdrawn from exchanges.

This is the largest single-day outflow of BTC from exchanges in history, and it
comes at a time when the price of BTC is hovering around $11,000.

Investors are self-custodying their BTC in anticipation of a price increase. By
taking their BTC off of exchanges and into wallets that they control, they can
avoid potential losses if the exchanges were to be hacked or otherwise
compromised.

Investors are nervous about potential regulation of cryptocurrency exchanges by
governments around the world. By self-custodying their BTC, they can avoid
having their assets frozen or confiscated by government agencies.

Some investors may simply be tired of dealing with the hassle of dealing with
exchanges. Exchanges have been known to experience outages during times of high
traffic, and some investors may feel that it’s more trouble than it’s worth.

Whatever the reason, this historic outflow of BTC from exchanges is a sign that
investors are becoming more savvy and cautious about where they store their
assets.

SELF-CUSTODY CRYPTOCURRENCIES

In the cryptocurrency world, self-custody refers to the storage of digital
assets in a wallet that is not provided by a third-party exchange. This means
that investors have full control over their funds and can make transactions
without going through an intermediary.

There are several advantages to self-custody. Firstly, it gives investors more
control over their assets. They can choose which wallets to use and can make
sure that their private keys are stored safely. Secondly, it eliminates the need
to trust a third party with custody of their funds. And finally, it can help
investors avoid fees charged by exchanges for holding and trading
cryptocurrencies.

Self-custody does come with some risks. If an investor loses their private key,
they will lose access to their funds. Additionally, if an investor’s computer is
hacked or infected with malware, their funds could be at risk. For these
reasons, it’s important that investors take care to keep their private keys safe
and secure.

Despite the risks, self-custody is becoming increasingly popular among
cryptocurrency investors. This is because it offers many benefits and gives
investors more control over their assets.

WHY ARE INVESTORS DUMPING STOCKS?

When it comes to investing in Bitcoin, many individuals are choosing to
self-custody their coins rather than trusting a third-party exchange. This is
especially true for larger investors who have Throughout the past year, there
have been several high-profile hacks of exchanges resulting in the loss of
customer funds. As a result, investors are becoming more cautious about where
they store their Bitcoin.

Self-custody gives investors greater control over their funds and helps to
ensure that their coins are safe from attack. It also allows investors to avoid
paying fees to third-party exchanges. For these reasons, we believe that the
trend of investors self-custodying their Bitcoin will continue in the future.

WHY IS THIS A PROBLEM FOR THE MARKET?

There are a few reasons why this is a problem for the market.

First, when investors move their assets into self-custody, it reduces the
liquidity in the market. This is because self-custody requires the investor to
hold onto the asset themselves, rather than having it held by an exchange.

Second, this outflow of assets from exchanges could lead to a decrease in demand
for Bitcoin. If investors are holding onto their Bitcoin rather than selling it
on an exchange, then there will be less demand for Bitcoin and the price could
potentially drop.

Third, this trend could lead to more centralization of Bitcoin. If investors are
holding onto their Bitcoin rather than selling it on an exchange, then the
exchanges will have less control over the price of Bitcoin. This could lead to
large swings in the price of Bitcoin as there would be no one to stabilize it.

CONCLUSION

Overall, self-custody among BTC investors is becoming more popular, as seen by
the increase in exchange outflows. This likely means that people are becoming
more aware of the risks associated with leaving their coins on exchanges and are
instead choosing to store them offline in wallets where they have full control.
While this may not be the most convenient option for everyone, it does offer a
higher level of security and peace of mind.

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skopemag.com Open in urlscan Pro 91.149.224.13 Public Scan

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skopemag.com Open in urlscan Pro
91.149.224.13 Public Scan

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