Home » Over 10% of Total Bitcoin Supply Stored in Exchanges

Over 10% of Total Bitcoin Supply Stored in Exchanges

Over 10 percent of total Bitcoin supply is stored in crypto exchanges, according to data from Glassnode. This is a considerable increase, in light of the fact, that in November 2019 the percentage was 6.7 percent of total supply.
news - Over 10% of Total Bitcoin Supply Stored in Exchanges

Over 10 percent of total Bitcoin supply is stored in crypto exchanges, according to data from Glassnode. This is a considerable increase, in light of the fact, that in November 2019 the percentage was 6.7 percent of total supply.

“Only a few months ago, TokenAnalyst had total Bitcoin on exchanges at ~6.7% total supply. Today, Glassnode puts that figure at >10%!” Analyst Charles Edwards tweeted. 

news - Over 10% of Total Bitcoin Supply Stored in Exchanges

He referred to this as Bitcoin centralizing exponentially. At the same time, in terms of asset centralization, Bitcoin shows a lower level than other altcoins. 

As previously reported, wallets of eight major cryptocurrency exchanges store almost 7% of the entire circulating supply of Bitcoin (BTC). Estimated 1.2 million coins is held in the wallets of eight major exchanges, which were described as  “the biggest HODLers.” 

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