Goldman Sachs Reports Drastic Decline in Bitcoin and Ethereum Supply on Exchanges

One of the world’s leading investment banks, US-based Goldman Sachs, reported a substantial decrease in the supply of Bitcoin (BTC) and Ethereum (ETH) on exchanges in June, based on on-chain data. The decline is attributed to increasing regulatory pressures and a shift towards self-custody. Biggest Drop in BTC and ETH Supply on Exchanges Recently According to the report published by Goldman Sachs, the exchange supply of BTC, the largest cryptocurrency by market value, dropped by 4% in June. This brought it down to levels unseen since November 2020, and it is now approaching the levels observed just before the start of the 2021 bull market. The exchange supply of ETH, the largest altcoin by market value, also fell by 5.8% during the same period, hitting a low unseen since May 2018. The banking giant stated that this trend is supported by several factors. It said, “Large centralized spot exchanges are […] The post Goldman Sachs Reports Drastic Decline in Bitcoin and Ethereum Supply on Exchanges appeared first on COINTURK NEWS.