According to a study conducted by Glassnode, after the crash of crypto derivatives platform FTX, investors started to massively withdraw Bitcoins from exchanges as traders preferred to place funds on cold wallets.
Almost all major trading platforms faced a large-scale outflow of cryptocurrencies as a result.
Now, the situation stabilized in mid-December, panic no longer dominates the market and BTC outflows from exchange addresses have fallen to a seven-month low.
However, according to the company experts, volatility still remains weak as investors prefer to refrain from realizing the digital currency.
Only 9,352 BTC were withdrawn from exchanges on December 25, which represents a fall of about of 93.5% in the asset’s withdrawals.