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Cryptocurrencies: 26009
Markets: 101336
Market Cap: $2,905,692,986,217     
24h Vol: $64,980,493,784
Coin-turk.com 2023-06-12 09:42:08

US-Based Crypto Exchanges’ Bitcoin and Ethereum Reserves Plunge Below 50% Amid Increasing Regulatory Pressure

US-Based Crypto Exchanges’ Bitcoin and Ethereum Reserves Plunge Below 50% Amid Increasing Regulatory Pressure
As US regulators continue to target cryptocurrency companies and exchanges, the Bitcoin (BTC) and Ethereum (ETH) reserves in US-based crypto exchanges have plunged below 50%.  BTC Reserves at Lowest Level Since January 2017  BTC and ETH reserves on US-based crypto exchanges have fallen below 50% in the midst of increasing regulatory pressure in the country. A research report shared by CryptoQuant last week noted, “US-based crypto exchanges have fallen behind offshore/international crypto exchanges in terms of the amount of Bitcoin they keep for their customers. BTC reserves on US-based crypto exchanges are at their lowest level since January 2017.”  Crypto reserves, which refer to the amount of coins and tokens held by crypto exchanges on behalf of their users, typically facilitate trading transactions and serve as a measure of liquidity. A reduction in crypto reserves indicates that users may be pulling their assets from crypto exchanges due to security concerns […] The post US-Based Crypto Exchanges’ Bitcoin and Ethereum Reserves Plunge Below 50% Amid Increasing Regulatory Pressure appeared first on COINTURK NEWS.
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