Five Mega Exchanges Hold 10% of Bitcoin's Entire Supply

News • 2020/10/19 • by

Chain.info published data recently, and according to them, almost 10.6% of the circulating Bitcoin recognized are controlled majorly by 5 Bitcoin exchange platforms and companies.

Coinbase, Binance, Kraken, Huobi, and OkEx are currently in control of over 1.95 million Bitcoin. This number is quite alarming as they are on the verge of controlling almost 2 million Bitcoin in the Bitcoin market.

Amongst the five platforms, Coinbase still holds the highest number standing out, with a total of 944,905 Bitcoin recognized in over 4.38 million wallet addresses.

Credit: Chain.info

Major Updates:

Coinbase ranks first amongst the top 5 platforms, while other platforms follow with a recognizable bitcoin spreading across many wallets.
Huobi ranks second with over 320K BTC, followed by Binance with close to 290K BTC.
OkEx and Kraken are ranked 4th and 5th, with both exchanges holding a total of 402694 BTC.
From the data collated, users still accept the security terms and conditions that come with exchanges holding their cryptocurrencies.

The five platforms are on the verge of taking over the Bitcoin market. The 3.7 million Bitcoin estimated by Chainalysis tagged to have been lost might boost the Bitcoin controlled by these top 5 platforms.

What do you think about the BTC dominance by these top five exchanges? Let's discuss in the comments.

Source: Cointelegraph

Comments (5)

Guest

exodusab

6 years ago

There could be an overlap between equity sellers and digital currency sellers. The largest equity market decliners this morning are tech stocks, including retail trading darlings, Tesla and the FAANG names [Facebook, Amazon, Apple, Netflix and Alphabet, once Google]. It is unclear if this will push into a continued broader crash in equity markets, which could put more pressure on digital currencies, or if it is just a short-term correction.

visiblemoney

6 years ago

In my opinion, the control of excess 10% of BTC among the top 5 exchanges was desirable! Coinbase has won over 4 millions users due to the cheapest selling price offering as well as platform efficiency earned through their system efficacy. Huobi's success wouldn't have been that great without the patronage of the large Asia investors. Likewise, Binance has been widely known for their vast varieties and volume trading. Okex and Kraken are good exchanges to resort to when looking for platform with steady liquidity. Each has its unique advantages that give it edge and place in the market.

godgrace1

6 years ago

Accepting for the exchanges to be in control of your bitcoin. It's really not a big deal. Although it's all based on onces point of view

freshprinx

6 years ago

Those 5 exchangers, what they have in common to hold that numbers of transactions is their quality customers support services.

lorettachinasa

6 years ago

Coinbase has already done well. It's a nice exchange always ranking first. As Bitcoin dominates in these exchange the price of Bitcoin will increase considerably