CryptoQuant: U.S. Crypto Trading Platform BTC Reserves Have Fallen to 2017 Levels

According to CryptoQuant research, BTC reserves on U.S. crypto trading platforms have fallen to 2017 levels due to regulatory uncertainty, and 56% of ETH is held outside the U.S. Meanwhile, regions such as the EU and Hong Kong are experiencing an influx of capital, talent and digital asset companies.

In addition, international cryptocurrency trading platforms are trading four times as much as U.S. platforms, and bitcoin's dominance of spot trading volume in the U.S. has fallen below 2017 levels and now stands at 21 percent. The report adds that U.S. trading platforms have little exposure to the perpetual futures market, which has 11 times the volume of spot trading, as companies are not allowed to offer this service. In contrast, Asian spot and futures trading volumes have increased by as much as 30 percent and 20 percent, respectively.