Bitcoin Sees Record Increase In Number Of Holders Who Use Self-Custody Wallets

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A recent report published by Glassnode revealed that the number of Bitcoin (BTC) users who hold their BTC assets in self-custody wallets has hit an all-time high.

As per the report, the recent collapse of FTX has led to a decrease in the percentage of Bitcoin holders who store their assets in exchanges. It revealed that the net BTC balance in exchanges dropped by 72.9K BTC over the last week, with FTX’s BTC balance declining “effectively to zero.”

Similarly, users have withdrawn over 1.101M Ethereum (ETH) assets within the last seven days.

Glassnode compared  FTX’s sudden collapse to the failure of Mt Gox in 2013. It claimed that the downfall of FTX caused users to hold their BTC and ETH tokens in the safety of their self-custody wallets. 



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Contrary to Bitcoin and Ethereum trends, exchanges have witnessed a drastic increase in the stablecoin inflow. Glassnode reported that more than $1.04M worth of Dai (DAI), USD Coin (USDC), USD Tether (USDT), and Binance USD (BUSD) tokens were added on November 10, making it the seventh-highest daily stablecoin inflow of all time.

Written by
Ayush Pande

A recent report published by Glassnode revealed that the number of Bitcoin (BTC) users who hold their BTC assets in self-custody wallets has hit an all-time high.

As per the report, the recent collapse of FTX has led to a decrease in the percentage of Bitcoin holders who store their assets in exchanges. It revealed that the net BTC balance in exchanges dropped by 72.9K BTC over the last week, with FTX’s BTC balance declining “effectively to zero.”

Similarly, users have withdrawn over 1.101M Ethereum (ETH) assets within the last seven days.

Glassnode compared  FTX’s sudden collapse to the failure of Mt Gox in 2013. It claimed that the downfall of FTX caused users to hold their BTC and ETH tokens in the safety of their self-custody wallets. 



Get Our Free Newsletter

Subscribe to our newsletter to get tips, our favorite services, and the best deals on Bitcompare-approved picks sent to your inbox


Contrary to Bitcoin and Ethereum trends, exchanges have witnessed a drastic increase in the stablecoin inflow. Glassnode reported that more than $1.04M worth of Dai (DAI), USD Coin (USDC), USD Tether (USDT), and Binance USD (BUSD) tokens were added on November 10, making it the seventh-highest daily stablecoin inflow of all time.

Written by
Ayush Pande