Crypto Exchanges Hold 6,2% of All BTC Supply

Users of centralized crypto exchanges hold ~1,3 million BTC in their accounts. 

Crypto Exchanges Hold 6,2% of All BTC Supply

CEX wallets hold about 6,2% of the total BTC supply as of December 23, 2021, according to CryptoRank. The distribution structure of the first cryptocurrency is as follows: 

  • Coinbase — 583,000 BTC;
  • Binance — 329,000 BTC;
  • Bitfinex — 193,000 BTC;
  • OKEx — 57,000 BTC;
  • Bitflyer — 48,000 BTC;
  • Bittrex — 39,000 BTC;
  • other exchanges — 67,000 BTC.

Analyst reports show a decline in BTC volume in the accounts of centralized exchanges since 2019. In July 2021, there were ~1,53 million BTC (7,3% of total supply) in their wallets. In October 2020, there were ~1,76 million BTC (9,5% of total supply). Data from Glassnode confirms the general dynamics, though the numbers differ significantly — according to their data, CEX accounts contain more than 2,54 million BTC. Glassnode analysts recently pointed out that the total Bitcoin supply on exchanges decreased by about 100,000 BTC per month in November and December 2021.

#Bitcoin news

Quantum Computers Could Improve PoW
Lightning Network Updates Taproot Assets for BRC-20
Bitcoin in Top 3 Risk Hedging Tools
Become a member of the CoinsPaid Media Community and start using crypto before it goes mainstream
Subscribe to the newsletter and training materials