TL;DR
Full Story
The reserves of BTC on exchanges is the lowest it’s been in years.
Which is a good thing!
Here’s what we mean:
Typically, people use exchanges to buy and sell crypto (or onboard/offboard their fiat over to crypto).
Once you’ve bought whatever coin you’re in the market for (e.g. BTC), you’ve got a few options – keep it on the exchange (exposing it to the exchange itself collapsing a la FTX, or other cyber hacks); or transfer it off the exchange to your own self-custody wallet (the safer of the two options).
If you’re day trading, chances are you won’t be sending it back and forth between the exchange and your wallet (paying a gas fee each time).
But, if you’re looking to buy and hold for the longer term, transferring it off the exchange to your own self-custody wallet is easily the best option.
Which is exactly what people are doing (see header image 👆).
Just another positive sign for crypto long term.
💎 🙌
