Bitcoin exchanges now hold the same BTC supply share as in late 2017
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Other advancements, notably artificial intelligence (AI), should produce a similar effect over time, some argue.
Decreasing exchange balances, meanwhile, continue as the number of Bitcoin whale entities — those with the largest wallet balances outside exchanges — see an uptick.
Around 40 new whales have appeared since late April, and on July 7, their numbers hit their highest since the FTX meltdown in November last year.
A curious exception to the exchange outflow trend comes in the form of mining pool Poolin, which continues to send vast tranches of BTC to Binance.
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