As the metric indicates, the amount of 2.32 million Bitcoin (BTC) currently held by the exchanges is higher than it has been in the past three years. Three years ago, March saw a much larger number of BTC on different trading platforms, with 2.73 million bitcoin. According to cryptoquant.com’s metrics, exchanges had just over three million Bitcoin on the day following the notorious ‘Black Thursday’ of March 11, 2020.
The crypto asset prices have dropped over the past few weeks and exchange balance metrics started to fall in August 2021. According to Bituniverse statistics, Coinbase holds the largest bitcoin balance with 853,530 Bitcoin. Bituniverse uses data from chain.info and peckshield.com. Transparent Balance Rank also measures ethereum and tether balances (USDT).
Binance has $18.94 Billion in crypto assets, below Coinbase’s balance. Binance holds more than 340,000 Bitcoin, according to current metrics, and 3.59million Ethereum. Binance also holds 1.24 billion stablecoin crypto-asset token tether. Huobi Global has $16.12 billion worth of crypto reserves, below the $44.5 billion Coinbase holds and the Binance stashes. The Huobi wallets show that the exchange has more than 160,000 Bitcoin and 2.13 Million ethereum.
Two reasons are often cited by crypto experts as good signs that crypto funds are leaving exchanges. The trend indicates that bitcoin owners are unwilling to sell at this time. This is because there are less funds available for whales to dump, and liquidity also suffers. The golden rule in cryptocurrency assets is to keep your keys. This trend could indicate that users are more serious about this advice.
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