Early on the 13th of November 2017, two large Safex withdrawals from the Bittrex exchange finally saw its overall holdings land under 1bn Safex.
Throughout the Safex community the sub 1bn Bittrex target has been hailed as a milestone for investor confidence in the Safe Exchange project.
This comes after a long weekend of wallet maintenance on the exchange which blocked any incoming and outgoing Safex coin movement.
Discord member Johnnie Walker commented on the recent milestone:
Scarcity. If someone is moving a large amount of TO the exchange, they are most likely there to trade/sell. If they’re REMOVING it they’re putting it in a wallet to hodl.
Large movements of Safex Coin into non-exchange wallets often signifies long-term holding. A strong single that investors are confident in the medium to long-term success of the Safe Exchange project.
At the time of publishing this article, Safex distribution figures are as follows:
- Total Safex on Bittrex : 988,355,423
- Total Safex Wallets : 3,308
- Average Wallet Size (excl. Bittrex) : 350,402