Bitcoin Exchange Supply Hits Record Low as Binance Wallet Launches Web3 API

Bitcoin's exchange supply has plummeted to one of its lowest levels since 2020, indicating reduced exchange-held supply. The cumulative net flow of Bitcoin across exchanges over time, known as Exchange Flux Balance, measures this metric and currently stands at 2.56 million BTC.

The decline in exchange reserves often suggests that investors are moving their Bitcoin into long-term storage rather than preparing to sell. This phenomenon has historically been viewed as a potentially bullish signal for the market.

Meanwhile, Binance Wallet has introduced its new Web3 API, which offers developers real-time market data, token swap functionality, transaction broadcasting, and multi-chain support across EVM networks and Solana. The API's core features include market data, trading, quote aggregation, and built-in MEV protection.

BlackRock's Bitcoin Spot ETF, IBIT, led the way with a daily net inflow of $16.35 million, while the Grayscale Bitcoin Mini Trust ETF saw a daily net inflow of $4.35 million. The total net asset value of Bitcoin Spot ETFs is $82.06 billion, with an ETF net asset ratio of 6.22%.