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13 crypto exchanges hold more than 7% of the crypto economy

13 crypto exchanges hold more than 7% of the crypto economy. The group of these exchanges holds $165.25 billion worth of BTC, ETH, and tether. Each of these exchanges has more than a billion dollars in its reserve.

The past two years have been tremendous for the crypto market. Due to the wider adoption and acceptance, crypto has caught the attention of the mainstream media and big institutions. The Crypto market started its journey with the flagship currency, BTC, and now has almost 10k digital assets. The market cap of the crypto world has reached $2.3 trillion, according to CoinMarketCap. A new report about crypto exchanges reveals some interesting facts. Let’s dive into this report.

13 crypto exchanges hold more than 7% of the crypto economy:

13 crypto exchanges hold more than 7% of the crypto economy. These 13 crypto exchanges are Coinbase, Binance, Huobi Global, Kraken, Okex, Gemini, Bitfinex, Bittrex, Bitflyer, Coincheck, Bitstamp, and Bybit. All of these crypto exchanges have at least one billion dollars or more in their reserve. Coinbase is leading this pack of crypto leaders and manages crypto assets of more than $56 billion.

13 crypto exchanges

If we further dive into the crypto assets of Coinbase, we will know that the reserve of the firm is made up of 853,530 BTC. The second position is captured with Binance with crypto assets of more than $24 billion. Binance holds 370,390 BTC, 3.59 billion ETH, and 1.24 billion USD. These are an insanely huge amount of assets held by a few top exchanges.

13 crypto exchanges

All 13 exchanges hold approximately 165.25 billion in crypto assets on January 2, 2022, which equates to 6.98% of the $2.3 trillion crypto economy. Bybit maintains the 13th position, in terms of crypto reserves, and holds $1.44 billion in digital assets.

Read more here.

About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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