5 Crypto Exchanges Keep 1.6 Million Bitcoins Or Nearly 8% Of Capped Supply – Bitcoin Exchanges News

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As of December 12, around 90% of all bitcoin that will exist is in circulation today, and the top five exchanges hold 1.6 million bitcoins. Bitcoin holdings on Coinbase, Binance, Huobi, Kraken, and Okex combined represent 7.96% of the 21 million bitcoin supply cap. Bitcoin held by Coinbase represents 51% of the 1.6 million bitcoins or $ 41.6 billion using today’s exchange rates.

5 exchanges hold 1.6 million bitcoins worth $ 81 billion

At the time of writing, 90% of the 21 million bitcoin funding cap has been mined. Currently 18,899,800 BTC have been mined so far and in the near future 19 million bitcoins will be mined.

We also know that a decent fraction of bitcoin has been lost and that Satoshi Nakamoto may have mined around 1.1 million BTC before leaving the bitcoin community. A study published by Coin Metrics on November 19, 2019 indicates that the assumed amount of coins lost was around 1.5 million at a block height of 600,000.

Bitcoin’s circulating supply is now 90% of the maximum number of bitcoins that will ever exist.

Today, five exchanges hold 1,673,460 bitcoins, or $ 81.6 billion using the current USD exchange rate. The five exchanges are Coinbase, Binance, Huobi, Kraken, and Okex and they all also hold a significant amount of ethereum. Coinbase holds 853,530 BTC according to metrics from Bituniverse, Peckshield, and Chain.info.

The company’s ether holdings are not disclosed, but in terms of bitcoin, Coinbase owns 51% of the aggregate held on the five major exchanges. Binance holds 290,080 BTC or $ 14.1 billion and Binance also has a reserve of 3.59 million ethereum worth $ 14.2 billion. In addition, Binance also has 1.24 billion tether (USDT) in reserves.

Top 10 Exchanges Retain 7% of $ 2.3 Trillion Crypto Economy

Huobi now has 160,950 BTC, 2.13 million ether and 747 million USDT as well. Metrics show that Kraken has 102,900 BTC in reserves and 2.27 million ethereum. Finally, the fifth largest digital bureau de change in terms of BTC reserves, Okex, has around 266,530 bitcoins but only 248,840 ethereum.

Top ten exchanges in terms of crypto asset reserves as of December 13, 2021.

Okex is followed by the 116,000 BTC and 1.15 million Gemini Ether, and the 195,550 BTC and 353,660 Bitfinex Ether in reserve. These exchanges are followed by Bittrex (48,110 BTC and 301,370 BTC), Bitmex (111,650 BTC) and Bitflyer (75,030 BTC). Among the top five crypto exchanges, in terms of reserves, $ 132.36 billion is held on these platforms.

The combination of all reserves held on the top ten exchanges is approximately $ 165.89 billion. To a certain perspective, there is more crypto value on the top ten exchanges than the entire stable economy of $ 162.6 billion. In fact, funds held on the top ten crypto trading platforms represent around 7.07% of the $ 2.343 billion crypto economy.

Tags in this story $ 81 billion, 1.6 million BTC, 21 million, 90% supply, Binance, bitcoin reserves, BitFinex, bitFlyer, BitMex, Bittrex, BTC reserves, capped supply, Coinbase, exchanges Crypto, Digital Currency Exchange, Exchanges, Gemini, Huobi, Kraken, Okex, Supply Cap

What do you think about the amount of crypto value held on centralized cryptocurrency exchanges today? Let us know what you think of this topic in the comments section below.

Jamie redman

Jamie Redman is Head of News at Bitcoin.com News and a FinTech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He is passionate about Bitcoin, open source code, and decentralized applications. As of September 2015, Redman has written over 4,900 articles for Bitcoin.com News on the disruptive protocols emerging today.

Image credits: Shutterstock, Pixabay, Wiki Commons, Bituniverse, Coinmarketcap,

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