Yesterday was publicised as a "Proof of Keys" day when people with accounts on Bitcoin exchanges were urged to withdraw their balance into a stand-alone wallet for the day as a test whether the exchanges actually held all the Bitcoin that had notionally been purchased from them or deposited with them.
Are there any verifiable figures for the proportion of total-holdings withdrawn from the most popular exchanges?
The absence of any answer here in three years suggests to me that the readers of this website perhaps don't know of any good evidence of significant participation in the annual exercise advocated by the "Proof of keys" website.
The "Proof of keys" website says this is an annual event every January 3rd.
However blockchain.com's graph of trading volumes shows no peaks on January 3rd.
There's a peak there on December 5th and at other times but no evidence of any truly significant large-scale "Proof of keys" activity on January 3rd that would stress-test the exchanges.
I conclude that the whole idea of a coordinated annual withdrawal of money as a stress-test of exchanges is largely worthless because it has never properly happened to any significant extent and probably wouldn't work in the way suggested.
