Seven crypto trading platforms hold more than $25 billion worth of Bitcoin and Ethereum
Crypto exchanges manage huge amounts of digital assets. According to BitUniverse, seven most popular platforms hold more than $25 billion in reserves.
Exchanges holding massive amounts of BTC saw their bitcoin reserves grow larger and data shows that Coinbase now holds more than 1 million BTC ($8.5 billion).
According to data from BitUniverse 1.03 million BTC is stored on the addresses of Coinbase — this is about $ 8.5 billion at the current exchange rate.
BitUniverse developers say that their application collects information from about 240 exchanges. Note that the data that the application uses is not official — it was obtained through third-party services such as Etherscan and PeckShield.
The fact that Coinbase took first place in the ranking of BitUniverse is not surprising: it is not only a crypto exchange, but also a custodial service aimed at institutional investors.
Coinbase Custody was launched last summer, in August 2019, the investment company Grayscale Investment from the holding company Digital Currency Group millionaire Barry Silbert attracted a service to store the assets that are under its management. Grayscale gave Coinbase about $2.7 billion.
There are also 7 other most popular trading platforms referenced with data from Chain.info’s crypto exchange reserve list. Figures indicate that they have at least $25 billion in crypto assets as of today. Huobi is the second-largest cryptocurrency exchange by reserve count with 462 000 BTC ($3.8 billion), 1.8 million ETH, and a large number of USDT as well. Binance takes third place with 307 000 BTC ($2.5 billion) and 2.6 million ETH held in reserves as well.
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Published at Tue, 28 Jan 2020 14:34:30 +0000
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