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Record Quantities of Bitcoin Leave Exchanges in Readiness for Contagion Fallout

Market jitters from the FTX collapse have triggered record quantities of Bitcoin leaving global exchanges.

Bitcoin Magazine Senior Analyst Dylan LeClair noted that 136,992 BTC had been withdrawn over the past 30 days, adding that the event was “historic.” The figure equates to 0.7% of the circulating supply.

Accompanying the message, LeClair included an Exchange Net Position chart illustrating the scale of the exodus. The chart below shows net outflows from global exchanges at their highest since 2016.

The previous outflow peak was around June, at the height of the Terra implosion, which saw approximately 120,000 tokens leaving exchanges.


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