Bitcoin Supply Lowest in 6 Years: Whale Activity Booms

• Bitcoin supply on crypto exchanges has reached its lowest level in over half a decade.
• Ethereum’s 10 largest addresses now hold 35% of the available supply.
• Crypto analytics firm Santiment reveals that Bitcoin is seeing decent amounts of whale activity.

Bitcoin Supply On Exchanges at Lowest Level in 6 Years

New data from crypto analytics firm Santiment reveals that the supply of Bitcoin (BTC) on crypto exchanges is at its lowest point in over half a decade. According to the market intelligence firm, only 5.8% of the crypto king’s overall supply is currently sitting on exchange platforms, the lowest level since December 2017.

Decent Amounts of Whale Activity

Santiment also notes that the top crypto asset by market cap is seeing decent amounts of Bitcoin whale activity. “Just 5.8% of Bitcoin is currently sitting on exchanges, which is officially the lowest level crypto’s top market cap asset has seen since December 17, 2017. We are also continuing to see reasonable amounts of BTC whale transactions (57,400 per week).”

Highest Amount Of Address Activity

Bitcoin is currently leading in terms of being digital asset with highest amount address activity according to Santiment followed by Tether (USDT), Ethereum (ETH), Polygon (MATIC) and Litecoin (LTC). All these assets have double or more number active addresses than other cryptocurrencies according to Santiment findings.

Ethereum’s 10 Largest Addresses Holding 35% Of Supply

Santiment also says that Ethereum’s 10 largest addresses associated with this leading altcoin are now holding a staggering 35% of ETH’s overall supply due to smaller investors capitulating their positions out fear and uncertainty surrounding latest dip in Cryptocurrency Market prices.

Current Price Action

At time writing, Bitcoin was trading for $26,001 and Ethereum was worth $1,649