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At the addresses of the centralized trading platforms, there are 1.3 million BTC – 6.5% of the total market supply. Most of these coins (over 44%) are held in Coinbase exchange wallets, according to CryptoRank analysts.
📈Crypto Exchanges Hold 6.2% of #Bitcoin Circulating Supply@Coinbase — 583K BTC@Binance — 329K BTC@Bitfinex— 193K BTC@OKEx — 57K BTC@Bitflyer — 48K BTC@BittrexExchange — 39K BTC
Other exchanges — 67K #BTC👉https://t.co/nYhYMYoYXp pic.twitter.com/itrMohLyss
— CryptoRank Platform (@CryptoRank_io) December 23, 2021
According to CryptoRank, there are 583,000 BTC in Coinbase wallets. In second place is Binance with 329,000 BTC (almost 25% of the market supply), in third place is Bitfinex with 193,000 BTC (16.63%).
Analyst reports indicate that CEX balances have declined over the past two years. In July 2021, their wallets had 1.53 million BTC (7.3% of the supply), in October 2020 – 1.76 million BTC (9.5%).
Glassnode data confirms this trend, but service figures vary widely. According to the latter, there are more than 2.54 million BTC in wallets of centralized exchanges. The value corresponds to the indicator of the level of the fall of 2018.
Data: Glassnode.
A similar outflow of funds is observed for the Ethereum addresses of centralized exchanges. According to Glassnode, they have 14.27 million ETH on their balance sheets – the same figure was adopted in November 2018.
Data: Glassnode.
Recall that since the creation of bitcoin, the volume of the value transferred through its blockchain has reached $ 8.89 trillion. In this indicator, the total cost “Profitable coins” amounted to $ 5.1 trillion, and “unprofitable” – $ 3.79 trillion.
#Bitcoin #market #supply #concentrated #cryptoexchanges
