13 exchanges represent 7% of the crypto economy – Report

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Thirteen cryptocurrency exchanges hold $ 165.25 billion worth of Bitcoin, Ethereum and Tether, according to a report from Bitcoin.com.

According to the report, these platforms each have over $ 1 billion in digital currencies held in reserve and hold around seven percent of the global crypto economy.

When the report was released on Sunday, the crypto economy was worth $ 2.3 billion. According to him, the 13 exchanges include Coinbase, Binance, Huobi Global, Kraken, Okex, Gemini, Bitfinex, Bittrex, Bitflyer, Coincheck, Bitstamp and Bybit.

The report said: “Coinbase is the leader, in terms of crypto reserves held on Sunday, with $ 56.2 billion in crypto assets under management. $ 40.27 billion of Coinbase’s reserves are made up of BTC, with 853 530 BTC in custody.

“The second largest exchange in terms of crypto AUM is Binance with $ 24.85 billion today. Binance holds 370,390 BTC, 3.59 ETH and 1.24 billion USDT in custody. The 13 exchanges hold around 165 , 25 billion crypto assets as of January 2, 2022, which is equivalent to 6.98% of the crypto economy of $ 2.3 billion.

Bybit maintains the 13th position, in terms of crypto reserves, and holds $ 1.44 billion in digital assets. About ten crypto asset exchanges command more than $ 50 million in crypto AUM. 23 exchanges hold one million dollars or more in AUM crypto and dozens of crypto exchanges do not have any reserve data available.

According to the report, only Grayscale Investment’s Bitcoin Trust has more BTC in its stash than Coinbase, with 648,069 BTC in its custody. The Bitcoin Trust also owns 3.086% of the 21 million bitcoin capped.

“Another entity that has over 100,000 BTC in assets is Block.one with 140,000 BTC under management, while publicly traded company Microstrategy now holds 124,391 BTC. Grayscale, Block.one and Microstrategy are the only non-trading entities with 100,000 BTC or more, ”he added.

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