• bitcoinBitcoin (BTC) $ 60,894.00
  • ethereumEthereum (ETH) $ 3,360.14
  • tetherTether (USDT) $ 0.999635
  • bnbBNB (BNB) $ 569.94
  • solanaSolana (SOL) $ 135.08
  • usd-coinUSDC (USDC) $ 1.00
  • staked-etherLido Staked Ether (STETH) $ 3,358.41
  • xrpXRP (XRP) $ 0.475163
  • the-open-networkToncoin (TON) $ 7.57
  • dogecoinDogecoin (DOGE) $ 0.122235
  • cardanoCardano (ADA) $ 0.389032
  • tronTRON (TRX) $ 0.121126
  • shiba-inuShiba Inu (SHIB) $ 0.000017
  • avalanche-2Avalanche (AVAX) $ 25.00
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 60,973.00
  • chainlinkChainlink (LINK) $ 13.95
  • polkadotPolkadot (DOT) $ 5.77
  • bitcoin-cashBitcoin Cash (BCH) $ 373.66
  • uniswapUniswap (UNI) $ 9.37
  • nearNEAR Protocol (NEAR) $ 5.53
  • wrapped-eethWrapped eETH (WEETH) $ 3,494.10
  • leo-tokenLEO Token (LEO) $ 5.77
  • matic-networkPolygon (MATIC) $ 0.572242
  • litecoinLitecoin (LTC) $ 70.63
  • daiDai (DAI) $ 1.00
  • pepePepe (PEPE) $ 0.000012
  • fetch-aiFetch.ai (FET) $ 1.64
  • internet-computerInternet Computer (ICP) $ 8.07
  • kaspaKaspa (KAS) $ 0.153650
  • ethena-usdeEthena USDe (USDE) $ 0.999994
  • ethereum-classicEthereum Classic (ETC) $ 23.40
  • renzo-restaked-ethRenzo Restaked ETH (EZETH) $ 3,396.68
  • aptosAptos (APT) $ 6.88
  • moneroMonero (XMR) $ 163.45
  • render-tokenRender (RNDR) $ 7.69
  • hedera-hashgraphHedera (HBAR) $ 0.078707
  • cosmosCosmos Hub (ATOM) $ 6.94
  • arbitrumArbitrum (ARB) $ 0.822621
  • stellarStellar (XLM) $ 0.090456
  • okbOKB (OKB) $ 41.39
  • filecoinFilecoin (FIL) $ 4.37
  • mantleMantle (MNT) $ 0.755361
  • crypto-com-chainCronos (CRO) $ 0.090923
  • blockstackStacks (STX) $ 1.60
  • immutable-xImmutable (IMX) $ 1.54
  • injective-protocolInjective (INJ) $ 23.00
  • first-digital-usdFirst Digital USD (FDUSD) $ 0.999369
  • lido-daoLido DAO (LDO) $ 2.41
  • suiSui (SUI) $ 0.875359
  • the-graphThe Graph (GRT) $ 0.218347
  • vechainVeChain (VET) $ 0.025697
  • makerMaker (MKR) $ 2,239.53
  • optimismOptimism (OP) $ 1.74
  • arweaveArweave (AR) $ 29.48
  • bittensorBittensor (TAO) $ 273.93
  • rocket-pool-ethRocket Pool ETH (RETH) $ 3,732.08
  • dogwifcoindogwifhat (WIF) $ 1.86
  • ondo-financeOndo (ONDO) $ 1.20
  • fantomFantom (FTM) $ 0.593713
  • flokiFLOKI (FLOKI) $ 0.000170
  • mantle-staked-etherMantle Staked Ether (METH) $ 3,481.59
  • theta-tokenTheta Network (THETA) $ 1.56
  • bitget-tokenBitget Token (BGB) $ 1.10
  • based-brettBrett (BRETT) $ 0.149917
  • bonkBonk (BONK) $ 0.000022
  • notcoinNotcoin (NOT) $ 0.014194
  • jasmycoinJasmyCoin (JASMY) $ 0.030021
  • thorchainTHORChain (RUNE) $ 4.08
  • aaveAave (AAVE) $ 91.50
  • whitebitWhiteBIT Coin (WBT) $ 9.42
  • celestiaCelestia (TIA) $ 6.80
  • coredaoorgCore (CORE) $ 1.34
  • eosEOS (EOS) $ 0.573609
  • pyth-networkPyth Network (PYTH) $ 0.322995
  • algorandAlgorand (ALGO) $ 0.137260
  • sei-networkSei (SEI) $ 0.365135
  • quant-networkQuant (QNT) $ 75.11
  • jupiter-exchange-solanaJupiter (JUP) $ 0.778722
  • galaGALA (GALA) $ 0.028142
  • kelp-dao-restaked-ethKelp DAO Restaked ETH (RSETH) $ 3,388.35
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  • kucoin-sharesKuCoin (KCS) $ 9.72
  • zebec-protocolZebec Protocol (ZBC) $ 0.017947
  • axie-infinityAxie Infinity (AXS) $ 6.13
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  • singularitynetSingularityNET (AGIX) $ 0.683707
  • bitcoin-svBitcoin SV (BSV) $ 44.42
  • tokenize-xchangeTokenize Xchange (TKX) $ 10.53
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  • dydx-chaindYdX (DYDX) $ 1.40
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  • elrond-erd-2MultiversX (EGLD) $ 29.71
  • neoNEO (NEO) $ 11.33
  • tezosTezos (XTZ) $ 0.782400
  • gnosisGnosis (GNO) $ 292.56
  • the-sandboxThe Sandbox (SAND) $ 0.329393
  • ordinalsORDI (ORDI) $ 35.53
  • msolMarinade Staked SOL (MSOL) $ 160.87
  • worldcoin-wldWorldcoin (WLD) $ 2.89
  • ether-fi-staked-ethether.fi Staked ETH (EETH) $ 3,358.64
  • usddUSDD (USDD) $ 0.997550
  • ethereum-name-serviceEthereum Name Service (ENS) $ 22.71
  • roninRonin (RON) $ 2.15
  • akash-networkAkash Network (AKT) $ 2.95
  • fasttokenFasttoken (FTN) $ 2.21
  • layerzeroLayerZero (ZRO) $ 2.75
  • chilizChiliz (CHZ) $ 0.077362
  • coinbase-wrapped-staked-ethCoinbase Wrapped Staked ETH (CBETH) $ 3,607.52
  • havvenSynthetix Network (SNX) $ 2.01
  • frax-etherFrax Ether (FRXETH) $ 3,356.50
  • nexoNEXO (NEXO) $ 1.16
  • fraxFrax (FRAX) $ 0.997730
  • conflux-tokenConflux (CFX) $ 0.155178
  • ecasheCash (XEC) $ 0.000032
  • dexeDeXe (DEXE) $ 10.95
  • decentralandDecentraland (MANA) $ 0.334002
  • book-of-memeBOOK OF MEME (BOME) $ 0.009001
  • wormholeWormhole (W) $ 0.344392
  • lido-staked-solLido Staked SOL (STSOL) $ 158.93
  • oasis-networkOasis Network (ROSE) $ 0.090570
  • mina-protocolMina Protocol (MINA) $ 0.540699
  • apecoinApeCoin (APE) $ 0.964586
  • zksyncZKsync (ZK) $ 0.162052
  • mantra-daoMANTRA (OM) $ 0.717353
  • safeSafe (SAFE) $ 1.39
  • iotaIOTA (IOTA) $ 0.177498
  • klay-tokenKlaytn (KLAY) $ 0.157765
  • swethSwell Ethereum (SWETH) $ 3,557.50
  • tether-goldTether Gold (XAUT) $ 2,334.47
  • pancakeswap-tokenPancakeSwap (CAKE) $ 2.13
  • dog-go-to-the-moon-runeDOG•GO•TO•THE•MOON (Runes) (DOG) $ 0.005619
  • livepeerLivepeer (LPT) $ 16.50
  • heliumHelium (HNT) $ 3.24
  • staked-frax-etherStaked Frax Ether (SFRXETH) $ 3,657.25
  • nervos-networkNervos Network (CKB) $ 0.011538
  • kavaKava (KAVA) $ 0.463195
  • mog-coinMog Coin (MOG) $ 0.000001
  • 1inch1inch (1INCH) $ 0.398428
  • true-usdTrueUSD (TUSD) $ 0.997856
  • theta-fuelTheta Fuel (TFUEL) $ 0.073380
  • xdce-crowd-saleXDC Network (XDC) $ 0.031899
  • aioz-networkAIOZ Network (AIOZ) $ 0.428054
  • rocket-poolRocket Pool (RPL) $ 22.88
  • arkhamArkham (ARKM) $ 1.98
  • constitutiondaoConstitutionDAO (PEOPLE) $ 0.088857
  • terra-lunaTerra Luna Classic (LUNC) $ 0.000082
  • bitcoin-goldBitcoin Gold (BTG) $ 25.52
  • ocean-protocolOcean Protocol (OCEAN) $ 0.685274
  • apenftAPENFT (NFT) $ 0.00000045
  • stader-ethxStader ETHx (ETHX) $ 3,454.92
  • illuviumIlluvium (ILV) $ 64.93
  • pax-goldPAX Gold (PAXG) $ 2,310.46
  • blurBlur (BLUR) $ 0.251289
  • aevo-exchangeAevo (AEVO) $ 0.503001
  • wemix-tokenWEMIX (WEMIX) $ 1.11
  • trust-wallet-tokenTrust Wallet (TWT) $ 1.01
  • usdbUSDB (USDB) $ 0.999784
  • woo-networkWOO (WOO) $ 0.212564
  • memecoin-2Memecoin (MEME) $ 0.019590
  • paypal-usdPayPal USD (PYUSD) $ 0.999289
  • turboTurbo (TURBO) $ 0.005787
  • corgiaiCorgiAI (CORGIAI) $ 0.001162
  • curve-dao-tokenCurve DAO (CRV) $ 0.315452
  • axelarAxelar (AXL) $ 0.559789
  • raydiumRaydium (RAY) $ 1.49
  • echelon-primeEchelon Prime (PRIME) $ 9.49
  • astarAstar (ASTR) $ 0.067872
  • iotexIoTeX (IOTX) $ 0.040349
  • magaMAGA (TRUMP) $ 8.12
  • mx-tokenMX (MX) $ 3.82
  • dydxdYdX (ETHDYDX) $ 1.40
  • ether-fiEther.fi (ETHFI) $ 3.24
  • popcatPopcat (POPCAT) $ 0.380390
  • aerodrome-financeAerodrome Finance (AERO) $ 0.734873
  • golemGolem (GLM) $ 0.363326
  • osmosisOsmosis (OSMO) $ 0.544185
  • kusamaKusama (KSM) $ 23.87
  • compound-ethercETH (CETH) $ 67.52
  • pepecoin-2PepeCoin (PEPECOIN) $ 3.05
  • stepnGMT (GMT) $ 0.164957
  • sats-ordinalsSATS (Ordinals) (SATS) $ 0.00000016
  • safepalSafePal (SFP) $ 0.744675
  • cat-in-a-dogs-worldcat in a dogs world (MEW) $ 0.003835
  • aragonAragon (ANT) $ 8.51
  • compound-governance-tokenCompound (COMP) $ 48.91
  • manta-networkManta Network (MANTA) $ 1.02
  • zilliqaZilliqa (ZIL) $ 0.017487
  • holotokenHolo (HOT) $ 0.001819
  • polymeshPolymesh (POLYX) $ 0.300858
  • celoCelo (CELO) $ 0.591626
  • compound-wrapped-btccWBTC (CWBTC) $ 1,221.93
  • ankrAnkr Network (ANKR) $ 0.031372
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  • ioio.net (IO) $ 3.29
  • biconomyBiconomy (BICO) $ 0.385178
  • superfarmSuperVerse (SUPER) $ 0.666934

Bitcoin Exchange Outflow Hits 1-Month High, BTC Price Pump Incoming?

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Bitcoin Exchange Outflow Hits 1-Month High, BTC Price Pump Incoming?

Crypto News: The regulatory crackdown on cryptocurrencies by the US Securities and Exchange Commission (SEC) has sent shockwaves through the broader crypto market, leading to a significant downturn. Major cryptocurrencies, including Polygon’s MATIC, Cardano (ADA), and Solana (SOL), experienced double-digit losses overnight, while Bitcoin’s decline was relatively modest compared to its altcoin counterparts.

Bitcoin’s Exchange Outflows Hit 1-Month High

According to Glassnode’s on-chain data, Bitcoin’s Exchange Outflow Volume (7d MA) has surged to a 1-month high of $39,781,339.94. This figure surpassed the previous 1-month high of $39,556,958.79, recorded on June 9, 2023. The term “exchange outflow” refers to the total amount of Bitcoin being withdrawn from centralized exchange wallets. This trend follows a recent wave of users moving their crypto assets away from exchanges, which have faced legal action from the SEC. As reported earlier on CoinGape, the federal agency filed lawsuits against Coinbase and Binance exchange, two prominent players in the crypto industry.

Bitcoin Exchange Outflow Hits 1-Month High, BTC Price Pump Incoming?

Typically, investors withdraw their BTC from exchanges to hold them in offsite wallets for extended periods. This behavior leads to a shortage of supply, especially considering the growing demand for Bitcoin. Therefore, it generally turns out to be a bullish signal for the crypto asset as the selling pressure on BTC also subsides gradually.

Bitcoin’s Resilient Price Action Amid Market Turmoil

In contrast to the market turmoil, recent data indicates that Bitcoin hodlers, who prefer to hold onto the asset rather than seek quick profits, have remained resolute. Glassnode’s data reveals that these investors continue to accumulate BTC at a rate of 37,400 tokens per month. This accumulation suggests a strong belief in the long-term value and potential of Bitcoin.

Bitcoin Exchange Outflow Hits 1-Month High, BTC Price Pump Incoming?

As of the time of writing, the price of Bitcoin is being traded at $25,627, representing a 4% drop in the past 24 hours. In comparison, the flagship cryptocurrency experienced a 5.67% decline over the previous seven days.

Also Read: Binance Declared “Illegal” By Nigeria SEC, Ordered To Cease Operations

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