Bitcoin Holdings on Trading Platforms Continue to Fall Over 68% of Total Holdings by Five Exchanges


Amid the recent market carnage associated with Terra’s fallout, bitcoins sent to exchanges surged more than 2% on May 7 from 2.481,000 bits to 25.32 million bitcoins. Despite the recent increase in the number of bitcoins being sent to trading platforms, the number of bitcoins on exchanges today remains at an ever lower level.

Bitcoin keeps moving off exchanges.

Bitcoin (BTC) It continues to be removed from central cryptocurrency exchanges as the number is well below the lows recorded on November 15, 2020. 248 days ago, the day after the infamous ‘Black Thursday’ on March 12, 2020, 3 million bitcoins stored on a centralized digital currency trading platform.

number during that period BTC Decrease by 15.86% from 3 million exchanges on March 12 BTC up to 2.524 BTC On November 15, 2020. In recent years BTC Holdings on the exchange were lower and in May the indicator hit two significant lows.

Bitcoin Holdings on Trading Platforms Continue to Fall Over 68% of Total Holdings by Five Exchanges
Exchange reserve derived from cryptoquant.com data set as of 22 May 2022.

First on May 2, 2022, CryptoQuant.com According to the data, 2.48 million BTC It is held on the exchange. 2.481,000 Bitcoins were 1.70% lower than Bitcoin. BTC It was held on November 15, 2020. However, due to the fallout of the Terra blockchain and the de-pegging event of Terrausd (UST), the BTC Deposit on the exchange.

2% increase since the low on May 2nd BTC Deposits sent to a centralized crypto exchange. However, the metric changed very quickly, with the 2532,000 Bitcoin ​​high on May 7 dropping 2.21% to 2,476,000 over the next week. BTC.

Of the $73 billion Bitcoin held on trading platforms, 5 exchanges hold more than $50 billion

As of this writing, there are 2.53 million Bitcoins worth $73.7 billion on the digital currency trading platform. According to data provided by Bituniverse’s Exchange Transparent Balance Rank (ETBR), Coinbase holds about 34% of the Bitcoin holdings on the exchange. According to the ETBR listing, Coinbase has 853,530 bitcoins on its trading platform, which is worth around $25.14 billion at present value. BTC Exchange Rate.

Of the 2.53 million Bitcoins held on the exchange, 13.58% are held by Binance. Binance is the second largest exchange. BTC Because we currently control 340,410 stash BTC Worth about $10 billion.

Okex occupies the third largest position. BTC Because the company currently has 266,530 BTC, or 10.62% of the total. Huobi Global currently holds the 4th largest position with 160,950 bitcoins on the platform. Huobi BTC Stash is equivalent to 6.39% of the total 2.53 million bitcoins held by the exchange.

Cryptocurrency exchange Kraken is the fifth largest. BTC 102,900 Bitcoin holders or 4.07%. among the top 5 exchanges BTC Reserves are a concern and the trading platform group holds 68.66% of 2.53 million bitcoins.

5 exchanges 1,724,000 BTC Of the total $2.53 million, $50.7 billion is $73.7 billion. while much less BTC The number of Bitcoin holdings on the exchange is mainly concentrated on Coinbase, Binance, Okex, Huobi and Kraken.

tags in this story

$73.7 billion, 5 exchanges, Binance, Bitcoin, Bitcoin (BTC), Bitcoin holdings, BTC, BTC deposits, BTC holdings, centralized exchanges, Coinbase, Coinbase 34%, cryptoquant.com, Exchanges, Huobi, Kraken, Okex, Terrausd (UST ), trading platforms

What do you think about the amount? BTC Storing on a centralized exchange? Do you think there are 68% of 5 cryptocurrency trading platforms? Let us know what you think of this topic in the comments section below.

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Jamie Redman

Jamie Redman is a news lead for Bitcoin.com News and a financial technology journalist based in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source code and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.




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