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What a difference a year makes. In March 2020, the aggregated Bitcoin exchange reserve stood at around 3 million BTC. Today, that number has declined by 700,000 — a manifestation that appears to have resulted from greater adoption and use cases of Bitcoin. Institutional interest and listed company purchases have absorbed a significant amount of the declining exchange balance. The burgeoning DeFi sector, too, has witnessed a defining trend of staking Bitcoin in DeFi protocols.