$2.3B in Bitcoin exchange outflows dwarfs the amount of new BTC mined By Cointelegraph


$2.3B in Bitcoin exchange outflows dwarfs the amount of new BTC mined

From Oct. 15 to Nov. 15, (BTC) exchange outflows dropped from 2.5 million to 2.355 million, the lowest levels since August 2018. Approximately 145,000 BTC, worth $2.35 billion at a price point of $16,200, moved out of exchanges.

Bitcoin exchange reserves since January 2018. Source: CryptoQuant

In the same period, Bitcoin miners mined around 27,000 BTC, equivalent to around $437.4 million. Since miners have been mining 900 BTC daily after the May 11 halving, 900 BTC times 30 days equals 27,000 BTC.

Bitcoin hash rate 7-day average. Source: Blockchain.com