15M BTC goes into self custody

[Flexystar]

Still people are using the exchangers like never before. I don't know but these incidences from the last year should have ignited marching of Not your keys Not your Bitcoin long ago but it only seems that forum people are aware about it and not the whole crypto community. You say - you say, there are always brokers, institutional investors who are going to deny the fact and will attract their customers to invest and as soon as they invest they will get the custodu of their coins and you will loose the ownership right there.

A person lost more than 4 billion against the lawsuit filed over exchangers custody. ToS simply stated if they are in the possession of exchanger then they are gone.

[franky1]

update

using the "bitcoin richlist"
the top 3 categories
january 2022
[100,000 - 1,000,000)   793,314 BTC
[10,000 - 100,000)   2,262,241 BTC   
[1,000 - 10,000)   4,630,567 BTC   

december 2nd
[100,000 - 1,000,000)   672,354 BTC
[10,000 - 100,000)   2,072,651 BTC
[1,000 - 10,000)   5,177,623 BTC

december 18th
[100,000 - 1,000,000]   684,123 BTC
[10,000 - 100,000)   2,291,459 BTC
[1,000 - 10,000)   4,601,707 BTC

january 12th 2023
[100,000 - 1,000,000]   668,306 BTC
[10,000 - 100,000)   2,306,719 BTC
[1,000 - 10,000)   4,573,406 BTC

which is a total of
Jan 2022 7922628
dec 2nd: 7686122  (average 770 a day removed(jan-dec day avg))
dec 18th: 7577289 (average 6800 a day removed(dec day avg))
jan 12th: 7548431 (average 1154 a day removed(dec-jan day avg))

there were 7.92m in large hold addresses (services, custodians) last january
out of 19.26m circulation means that 11.34mill were more likely a number in "self custody"

there are 7.54m in large hold addresses (services, custodians) this month
out of 19.26m circulation means that 11.72mill were more likely a number in "self custody"

[Minhxx]

this is the general psychology of investors. A series of scandals came to the market and made them afraid and pressure to take profits caused the market to crash. That will pass quickly if we continue to hold our coins obliviously

[Kakmakr]

I think it has something to do with the US government, showing signs that it wants to over regulate Crypto currencies. The government can only concentrate their regulations on centralized services like wallet providers and Exchanges, so they are the main targets.

So, by moving your coins out of these centralized services, you effectively "free" up your tokens from these strict regulations. We just hope that the US elections will sort out these dark clouds that are hanging on the horizon. 

[SquirrelJulietGarden]

I think it has something to do with the US government, showing signs that it wants to over regulate Crypto currencies. The government can only concentrate their regulations on centralized services like wallet providers and Exchanges, so they are the main targets.

As governments, they do want to regulate things if they can do. They will try to do their best from regulation to gain more tax from their citizens. Their very first targets would be centralized exchanges, merchants, marketplaces and centralized cryptocurrency like altcoins. With cryptocurrency wallets, they will target custodial wallets first and even they aim at non custodial wallets, no way for them to control keys of those wallet users. It's their key, it's their coin.

So, by moving your coins out of these centralized services, you effectively "free" up your tokens from these strict regulations.

Bitcoin is a coin, not a token.

[pawel7777]

this is the general psychology of investors. A series of scandals came to the market and made them afraid and pressure to take profits caused the market to crash. That will pass quickly if we continue to hold our coins obliviously

No idea why have you decided to bump this 6 months old thread, but the topic discusses people choosing to withdraw from exchanges into non-custodial wallets. This is not the behaviour of someone looking to panic sell, but quite the opposite.

I wonder if the trend continued since this topic was created. I have no access to that chart on glassnode (not available to standard users) but if anyone could post an update, it would be great. I sense the outflow from exchanges was likely to continue, i.e. considering some regulatory limitations imposed on exchanges, e.g. binance closing their "earn" options in some of the countries, making it pointless for many to keep their funds there.

[hopenotlate]

this is the general psychology of investors. A series of scandals came to the market and made them afraid and pressure to take profits caused the market to crash. That will pass quickly if we continue to hold our coins obliviously

No idea why have you decided to bump this 6 months old thread, but the topic discusses people choosing to withdraw from exchanges into non-custodial wallets. This is not the behaviour of someone looking to panic sell, but quite the opposite.

I wonder if the trend continued since this topic was created. I have no access to that chart on glassnode (not available to standard users) but if anyone could post an update, it would be great. I sense the outflow from exchanges was likely to continue, i.e. considering some regulatory limitations imposed on exchanges, e.g. binance closing their "earn" options in some of the countries, making it pointless for many to keep their funds there.

According to the data collected by coinglass.com and shown in the graph below Bitcoin outflow from exchanges has taken a pause in last six months but if we zoom out we can definitely state it is a general trend switching from exchanges to self custodial solutions.