Cryptocurrencies

The 5 Biggest Exchanges in the World Share 10% of Bitcoin (BTC) in Circulation! – Cryptocurrencies

To keep their cryptocurrency holdings, most holders go through a digital wallet housed with exchanges. For security reasons, the trend of recent years seemed to turn in favor of decentralized exchanges. However, the on-call service offered by traditional centralized exchanges is still important, according to data released by Chain.info. According to these, around 10.6% of the Bitcoin (BTC) supply in circulation is currently held on just five centralized exchanges. Back to these figures.

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1.96 million BTC held by Coinbase, Huobi, Binance, OKEx and Kraken

Real mastodons of the sector, Coinbase, Huobi, Binance, OKEx and Kraken share 10% of the current bitcoin supply or more than 1.96 million BTC. We are in first place in the ranking Coinbase which alone holds almost half of that total with its 944,904 BTC. This figure is spread over a set of 4.39 million different wallet addresses. In second position Huobi, and its 901,600 asset-holding wallets, comes out with 323,665 BTC.

Binance it owns 289,961 BTC which is spread over nearly 2.7 million addresses whileOKEx has 276,184 BTC in 339,000 wallets. Kraken leads the way to the top 5 with a total of 126,510 BTC held at 672,000 addresses. Another statistic makes it possible to better realize the domination of the five centralized exchanges mentioned above. Indeed, the data of Chain.infoshow that the following seven scholarships in this ranking – when combined –only hold 210,000BTC. These include Bitflyer, BIttrex, Bitfinex, Poloniex, Coincheck, Gate.io and Bitstamp.

A statistic that does not take into account “lost” BTCs

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The main information to be gleaned from these figures is thata good part of BTC holders continue to trust centralized exchanges despite the associated security risks. It could even be that the percentage of Bitcoin’s supply held by these exchanges is more than 10%. Chainalysis recently felt that all 3.7 million BTC that have not been associated with a transaction for almost 5 years would be lost. Taking this statistic into account, the total Bitcoin supply currently held on these 5 centralized platforms could be 15%.

These figures show once again that the Bitcoin ecosystem continues to be dominated by a handful of mainstream exchanges. This domination could last longer as cases of piracy become rare on these platforms..

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