Active Ethereum Wallets records all-time high

Just three crypto exchanges control about 14.3% of the circulating BTC supply (2.6 million BTC) currently sitting on their centralized exchange wallets.

The largest holders of BTCs include Coinbase (954k), Huobi (364k), and Binance (267k).

READ MORE: Binance, Bitfinex, Coinbase, Huobi receive about 40% of all BTCs

UBA ADS

In addition, data obtained from Chainalysis, a leading crypto data analytic firm, revealed that the four biggest crypto exchanges since 2018 – Coinbase, Binance, Huobi, and Bitfinex received about 40% of all BTCs via exchanges this year.

Quick facts about crypto exchanges; Crypto exchange facilitates the exchange of one crypto asset or digital coin to another, in crypto terms enable the buying and selling of cryptocurrencies, and also the exchange of fiat currencies (USD, GBP, YEN)into crypto-currencies.

GTBank 728 x 90

Trusted brands in the crypto exchange business include Gemini, Binance, Coinbase, FTX, Bitstamp, and Liquid

READ MORE: BTC whales control the BTC market, at the highest levels 

The next ten crypto exchanges collected 36% in a combined volume of BTCs leaving other smaller exchanges to share out the remaining 24% of transfer volume

onebank728 x 90

Chainalysis, in a detailed report, also analyzed that though about 96% of retail traders made most of the transactions, the professional traders controlled most of the volume;

Use advanced financial calculators on Nairametrics

“Retail traders, whom we categorize as those who deposit less than $10,000 USD worth of Bitcoin on exchanges at a time, appear to be the large majority, accounting for 96% of all transfers sent to exchanges on an average weekly basis.

app

GTBank 728 x 90

“Professional traders, however, control the liquidity of the market, accounting for 85% of all the USD value of Bitcoin value sent to exchanges,” the report said.

 

Be the first to comment

Any tought ?