According to PANews news on July 24, Jan Wüstenfeld, an on-chain data analyst at CryptoQuant, said that the BTC exchange balance has dropped to the level around January/February 2018, and the exchange balance has dropped by about 32% from the peak in March 2020, from 3.1 million to 2.1 million. Currently 11% of BTC's circulating supply is on exchanges (17% on March 13, 2020).

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