Binance increases BTC reserves by $11,3 billion in three years
In this, Coinbase reduced its bitcoin holdings by ~$15 billion over the same period
![Binance increases BTC reserves by $11,3 billion in three years](https://storage.getblock.net/source/1/IxeMNRNmr7ziIJtn_Jd3Fksgsx1ZWH0S.webp)
05.06.2023 - 09:25
285
2 min
0
What’s new? Experts at analytics platform Glassnode analyzed the bitcoin holdings of the three largest crypto exchanges over the past three years, noting significant growth on Binance and Bitfinex. Thus, the former increased its assets by 421 000 BTC (~$11,29 billion) to 703 000 coins (~$18,8 billion), while the latter increased by 250 000 (~$6,7 billion) to 320 000 bitcoins (~$8,6 billion). Meanwhile, Coinbase reduced its reserves by 558 000 BTC (~$15 billion) over the same period. The platform now holds 462 000 bitcoins (~$12,4 billion) in reserves.
When assessing the total amount of #Bitcoin held on the Top 3 Exchanges across the past 3 years, we note large growth across Binance and Bitfinex with an increase of +421K and +250K BTC respectively, whilst Coinbase has declined by -558K BTC.🟡 Binance: 703K BTC (+421K BTC)🔵… pic.twitter.com/WD6J7Qh86P — glassnode (@glassnode) June 4, 2023
What else is known? Glassnode analysts reported that on May 13, the number of bitcoin addresses holding 1 BTC or more crossed the 1 million mark for the first time ever. Since early February 2022, the number of such addresses has increased by about 190 000.
Since May, Tether, the issuer of the USDT stablecoin, began regularly allocating up to 15% of its realized net operating profits to the purchase of BTC. The firm is known to hold $1,5 billion in bitcoins at the end of March.
Useful material?
Market
Australia’s largest financial institutions have refused to process payments to digital asset trading platforms due to the risk of fraud
Jul 26, 2024
Politics
According to the politician, the value of the country’s bitcoin reserves should equal the value of gold reserves
Jul 26, 2024
Mining
The capacity of the Bitaxe device used by the network participant is only 500 Gh/s
Jul 25, 2024
Trends
Meanwhile, Trump-inspired assets have not shown significant growth
Jul 22, 2024
Market
The fee will be as much as 2,5% compared to 0,25-0,19% for competitors
Jul 18, 2024
Market
This is the third consecutive month of decline
Jul 18, 2024