• Bitcoin has become increasingly scarce with more remaining dormant outside of exchanges.
• A partnership between Glassnode and Reflexivity Research is bringing on-chain market intelligence to digital asset investors.
• Reactions to the low balance on exchanges indicated that investors had lost an estimated 3.7 million coins, with the number expected to rise by 2030.
Bitcoin Supply Crunch
The amount of bitcoin available on exchanges has been steadily declining in recent years due to more bitcoin remaining dormant outside of them. This has created a supply crunch for those looking to buy or sell the cryptocurrency.
Glassnode and Reflexivity Research Partnership
Glassnode, an on-chain analytics firm, has partnered with Will Clemente and Reflexivity Research to provide digital asset investors with market intelligence insights. The announcement was made via Twitter, where Will Clemente also shared his thoughts about the low balance held by exchanges compared to other digital wallets.
Reactions To Low Balance On Exchanges
Will Clemente’s tweet provoked many reactions from other users online. For example, one user agreed that 2.6 million coins hadn’t moved in 10 years while another claimed that an estimated 3.7 million coins had been lost according to Chainanalysis‘ 2020 study, predicting that this number would rise even further by 2030. Another user compared BTC’s growth and evolution to the construction of cathedrals in Europe which took 150 years before it became seamless – indicating BTC will take time before its operations are smooth as well.
A user named HODL&13 bragged about how bitcoins held for more than 10 years have never gone down in value – suggesting it remains a good investment even during times when its value fluctuates wildly or drops significantly within short periods of time.
It is clear that while there is less bitcoin available on exchanges due to most being held elsewhere, there is still strong demand for it as people continue investing heavily despite its volatile nature or risk of losses due to market instability or fraudulent activities associated with some transactions conducted using cryptocurrencies like bitcoin