Cryptocurrencies

Fewer People Are Sending Bitcoin to Largest Crypto Exchanges

Power users are dominating trading, TokenAnalyst data show
Binance, Bitfinex are offering more services to boost revenue

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By Olga Kharif

September 5, 2019 at 12:02 PM UTC

This article is for subscribers only.

The notion that more people are trading cryptocurrencies? Well, it just may be wrong.

Fewer people have been sending Bitcoin to major exchanges in recent months, according to crypto data tracker TokenAnalyst. After peaking in 2017, the number of unique addresses sending the world’s most-popular cryptocurrency to exchanges such as Binance and Bitfinex has been declining, it found.