Self-custody Bitcoin amount unmeasurable so far, says Santiment exec
One of the most notable results of self-custody is that it tends to decrease circulation, which in turn reduces the market cap. There is no way to measure the amount of Bitcoin (BTC) that is being sent to self -custody wallets so far, according to one industry executive. Amid the ongoing FUD over lawsuits against major cryptocurrency exchanges, investors have been increasingly offloading their Bitcoin from crypto trading platforms. As of mid-June, Bitcoin’s exchange supply fell to its lowest level since February 2018, according to data from the crypto intelligence platform Santiment. The massive exchange outflows have been triggered by the growth of self-custody fueled by uncertainty around Binance and Coinbase, Santiment said. BTC supply on exchanges since June 2017. Source: Santiment The growing self -custody trend has a massive impact on cryptocurrency markets, Santiment’s head of marketing Brian Quinlivan told Cointelegraph on June 15. One of the most notable results of self -c...