The number of coins stored on exchanges has declined substantially except for some exchanges which show decent growth.
The term exchange balance refers to the amount of crypto that’s held on a particular platform. If the amount of crypto held on an exchange is high, it means there is much liquidity for buying and selling tokens.
Currently the exchange volume is going down while number of addresses holding 0.01+ coins reached an all time high (according to Glassnode) which means that across exchanges users are holding on to their assets and believe that BTC will gain more value in the future.
At the same time, the amount of bitcoin on OKX, Binance and some other exchanges has substantially risen. It seems that bitcoin is more liquid on these exchanges and users are ready to buy and sell their assets. A possible reason for this may be the fact that these exchanges still accept Russian users while many others have barred them. OKX, for example, provides an extremely convenient service for Russians.
