• bitcoinBitcoin (BTC) $ 43,875.00
  • ethereumEthereum (ETH) $ 2,346.36
  • tetherTether (USDT) $ 1.00
  • bnbBNB (BNB) $ 239.63
  • xrpXRP (XRP) $ 0.662365
  • solanaSolana (SOL) $ 71.83
  • usd-coinUSDC (USDC) $ 0.999638
  • staked-etherLido Staked Ether (STETH) $ 2,345.42
  • cardanoCardano (ADA) $ 0.586357
  • dogecoinDogecoin (DOGE) $ 0.099398
  • avalanche-2Avalanche (AVAX) $ 32.43
  • tronTRON (TRX) $ 0.107742
  • polkadotPolkadot (DOT) $ 7.17
  • chainlinkChainlink (LINK) $ 16.21
  • matic-networkPolygon (MATIC) $ 0.898664
  • the-open-networkToncoin (TON) $ 2.35
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 43,779.00
  • shiba-inuShiba Inu (SHIB) $ 0.000010
  • litecoinLitecoin (LTC) $ 78.15
  • daiDai (DAI) $ 0.998696
  • uniswapUniswap (UNI) $ 6.70
  • bitcoin-cashBitcoin Cash (BCH) $ 251.30
  • stellarStellar (XLM) $ 0.135238
  • leo-tokenLEO Token (LEO) $ 3.80
  • okbOKB (OKB) $ 58.19
  • moneroMonero (XMR) $ 177.27
  • ethereum-classicEthereum Classic (ETC) $ 21.96
  • cosmosCosmos Hub (ATOM) $ 10.39
  • crypto-com-chainCronos (CRO) $ 0.106773
  • kaspaKaspa (KAS) $ 0.127115
  • true-usdTrueUSD (TUSD) $ 0.997865
  • hedera-hashgraphHedera (HBAR) $ 0.074298
  • nearNEAR Protocol (NEAR) $ 2.46
  • immutable-xImmutable (IMX) $ 1.89
  • filecoinFilecoin (FIL) $ 5.12
  • internet-computerInternet Computer (ICP) $ 5.40
  • aptosAptos (APT) $ 8.18
  • lido-daoLido DAO (LDO) $ 2.37
  • vechainVeChain (VET) $ 0.027148
  • optimismOptimism (OP) $ 2.13
  • thorchainTHORChain (RUNE) $ 6.42
  • bittensorBittensor (TAO) $ 334.40
  • mantleMantle (MNT) $ 0.615445
  • elrond-erd-2MultiversX (EGLD) $ 64.61
  • quant-networkQuant (QNT) $ 114.97
  • the-graphThe Graph (GRT) $ 0.173670
  • injective-protocolInjective (INJ) $ 18.74
  • algorandAlgorand (ALGO) $ 0.195743
  • binance-usdBUSD (BUSD) $ 0.998959
  • arbitrumArbitrum (ARB) $ 1.14
  • aaveAave (AAVE) $ 98.34
  • blockstackStacks (STX) $ 0.989926
  • render-tokenRender (RNDR) $ 3.75
  • rocket-pool-ethRocket Pool ETH (RETH) $ 2,566.91
  • celestiaCelestia (TIA) $ 9.35
  • havvenSynthetix Network (SNX) $ 4.07
  • makerMaker (MKR) $ 1,415.99
  • flowFlow (FLOW) $ 0.853948
  • wemix-tokenWEMIX (WEMIX) $ 3.64
  • the-sandboxThe Sandbox (SAND) $ 0.583319
  • bittorrentBitTorrent (BTT) $ 0.000001
  • theta-tokenTheta Network (THETA) $ 1.15
  • fantomFantom (FTM) $ 0.403246
  • first-digital-usdFirst Digital USD (FDUSD) $ 0.998651
  • terra-lunaTerra Luna Classic (LUNC) $ 0.000180
  • axie-infinityAxie Infinity (AXS) $ 7.89
  • decentralandDecentraland (MANA) $ 0.561235
  • ordinalsORDI (ORDI) $ 49.09
  • bitcoin-svBitcoin SV (BSV) $ 51.63
  • galaGALA (GALA) $ 0.032514
  • eosEOS (EOS) $ 0.841152
  • kucoin-sharesKuCoin (KCS) $ 9.88
  • neoNEO (NEO) $ 13.03
  • iotaIOTA (IOTA) $ 0.290389
  • tezosTezos (XTZ) $ 0.966951
  • kavaKava (KAVA) $ 0.852981
  • whitebitWhiteBIT Coin (WBT) $ 5.81
  • mina-protocolMina Protocol (MINA) $ 0.803084
  • klay-tokenKlaytn (KLAY) $ 0.249447
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  • usddUSDD (USDD) $ 0.989749
  • xdce-crowd-saleXDC Network (XDC) $ 0.051470
  • bitget-tokenBitget Token (BGB) $ 0.508569
  • chilizChiliz (CHZ) $ 0.091662
  • frax-etherFrax Ether (FRXETH) $ 2,343.39
  • tokenize-xchangeTokenize Xchange (TKX) $ 8.70
  • frax-shareFrax Share (FXS) $ 9.17
  • illuviumIlluvium (ILV) $ 111.63
  • cheeleeCheelee (CHEEL) $ 12.63
  • pyth-networkPyth Network (PYTH) $ 0.452825
  • conflux-tokenConflux (CFX) $ 0.191308
  • bonkBonk (BONK) $ 0.000011
  • apecoinApeCoin (APE) $ 1.81
  • ecasheCash (XEC) $ 0.000034
  • pancakeswap-tokenPancakeSwap (CAKE) $ 2.50
  • fraxFrax (FRAX) $ 0.996850
  • heliumHelium (HNT) $ 4.51
  • pepePepe (PEPE) $ 0.000002
  • curve-dao-tokenCurve DAO (CRV) $ 0.685714
  • gatechain-tokenGate (GT) $ 4.67
  • gnosisGnosis (GNO) $ 238.26
  • blurBlur (BLUR) $ 0.524946
  • rocket-poolRocket Pool (RPL) $ 30.07
  • sei-networkSei (SEI) $ 0.265436
  • terra-luna-2Terra (LUNA) $ 0.952260
  • compound-ethercETH (CETH) $ 47.20
  • flare-networksFlare (FLR) $ 0.018554
  • dydxdYdX (ETHDYDX) $ 2.98
  • fetch-aiFetch.ai (FET) $ 0.512333
  • arweaveArweave (AR) $ 8.16
  • staked-frax-etherStaked Frax Ether (SFRXETH) $ 2,501.47
  • gasGas (GAS) $ 8.02
  • trust-wallet-tokenTrust Wallet (TWT) $ 1.24
  • radixRadix (XRD) $ 0.049988
  • osmosisOsmosis (OSMO) $ 0.791965
  • gmxGMX (GMX) $ 53.82
  • casper-networkCasper Network (CSPR) $ 0.042642
  • tether-goldTether Gold (XAUT) $ 2,005.63
  • zcashZcash (ZEC) $ 33.88
  • msolMarinade staked SOL (MSOL) $ 82.85
  • coinbase-wrapped-staked-ethCoinbase Wrapped Staked ETH (CBETH) $ 2,475.76
  • rollbit-coinRollbit Coin (RLB) $ 0.159703
  • nexoNEXO (NEXO) $ 0.863609
  • aelfaelf (ELF) $ 0.676239
  • roninRonin (RON) $ 1.68
  • compound-wrapped-btccWBTC (CWBTC) $ 880.70
  • oec-tokenOKT Chain (OKT) $ 25.96
  • huobi-tokenHuobi (HT) $ 2.86
  • pax-goldPAX Gold (PAXG) $ 1,985.64
  • woo-networkWOO Network (WOO) $ 0.246994
  • apenftAPENFT (NFT) $ 0.00000044
  • oasis-networkOasis Network (ROSE) $ 0.085568
  • 1inch1inch (1INCH) $ 0.403975
  • zilliqaZilliqa (ZIL) $ 0.024590
  • paxos-standardPax Dollar (USDP) $ 0.998879
  • huobi-btcHuobi BTC (HBTC) $ 47,817.00
  • stepnSTEPN (GMT) $ 0.310645
  • kujiraKujira (KUJI) $ 3.45
  • dashDash (DASH) $ 35.73
  • singularitynetSingularityNET (AGIX) $ 0.323300
  • astarAstar (ASTR) $ 0.074232
  • flokiFLOKI (FLOKI) $ 0.000040
  • axelarAxelar (AXL) $ 0.800817
  • jito-governance-tokenJito (JTO) $ 3.39
  • holotokenHolo (HOT) $ 0.002178
  • compound-governance-tokenCompound (COMP) $ 54.98
  • basic-attention-tokenBasic Attention (BAT) $ 0.251218
  • terrausdTerraClassicUSD (USTC) $ 0.041965
  • akash-networkAkash Network (AKT) $ 1.67
  • siacoinSiacoin (SC) $ 0.007422
  • nemNEM (XEM) $ 0.041336
  • enjincoinEnjin Coin (ENJ) $ 0.370576
  • 0x0x Protocol (ZRX) $ 0.433513
  • qtumQtum (QTUM) $ 3.47
  • memecoin-2Memecoin (MEME) $ 0.039731
  • convex-financeConvex Finance (CVX) $ 4.06
  • aleph-zeroAleph Zero (AZERO) $ 1.33
  • bitcoin-goldBitcoin Gold (BTG) $ 18.53
  • loopringLoopring (LRC) $ 0.260841
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  • ethereum-pow-iouEthereumPoW (ETHW) $ 2.96
  • lido-staked-solLido Staked SOL (STSOL) $ 82.71
  • worldcoin-wldWorldcoin (WLD) $ 2.64
  • autonolasAutonolas (OLAS) $ 6.13
  • mask-networkMask Network (MASK) $ 3.81
  • theta-fuelTheta Fuel (TFUEL) $ 0.048789
  • mx-tokenMX (MX) $ 3.07
  • iotexIoTeX (IOTX) $ 0.032338
  • chiaChia (XCH) $ 32.97
  • justJUST (JST) $ 0.033872
  • yearn-financeyearn.finance (YFI) $ 9,028.67
  • ocean-protocolOcean Protocol (OCEAN) $ 0.506151
  • jasmycoinJasmyCoin (JASMY) $ 0.006132
  • ethereum-name-serviceEthereum Name Service (ENS) $ 9.73
  • safepalSafePal (SFP) $ 0.686660
  • ankrAnkr Network (ANKR) $ 0.028800
  • ravencoinRavencoin (RVN) $ 0.023684
  • kusamaKusama (KSM) $ 31.29
  • ribbon-financeRibbon Finance (RBN) $ 0.325464
  • superfarmSuperVerse (SUPER) $ 0.616470
  • beldexBeldex (BDX) $ 0.046460
  • fasttokenFasttoken (FTN) $ 1.33
  • dexeDeXe (DEXE) $ 4.74
  • nxmNexus Mutual (NXM) $ 48.42
  • iconICON (ICX) $ 0.277145
  • moonbeamMoonbeam (GLMR) $ 0.331140
  • dao-makerDAO Maker (DAO) $ 1.25
  • audiusAudius (AUDIO) $ 0.220530
  • golemGolem (GLM) $ 0.256933
  • sushiSushi (SUSHI) $ 1.32
  • waxWAX (WAXP) $ 0.075145
  • wavesWaves (WAVES) $ 2.52
  • benqi-liquid-staked-avaxBENQI Liquid Staked AVAX (SAVAX) $ 36.38
  • decredDecred (DCR) $ 15.94
  • tellorTellor Tributes (TRB) $ 93.33
  • aragonAragon (ANT) $ 5.93
  • baby-doge-coinBaby Doge Coin (BABYDOGE) $ 0.00000000
  • seedify-fundSeedify.fund (SFUND) $ 4.03
  • swipeSXP (SXP) $ 0.399972

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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