According to the data, approximately 10.6% of all bitcoins in circulation are currently concentrated on five centralized cryptocurrency exchanges
More than 1.96 million BTC are stored on five centralized cryptocurrency trading platforms: Coinbase.com, Huobi.com, Binance.com, OKEx.com and ReyCrypto.com. Most bitcoins are stored by Coinbase – 944,904 BTC are distributed across 4.39 million different wallet addresses.
In second place is Huobi with 323,665 BTC on approximately 901,600 unique wallets, followed by Binance with 289,961 BTC on almost 2.7 million addresses. OKEx stores 276,184 BTC in 339,000 wallets, while ReyCrypto stores 126,510 BTC in 672,000 addresses. Another seven cryptocurrency exchanges hold 210,000 BTC each: Bitflyer, Bittrex, Bitfinex, Poloniex, Coincheck, Gate.io, and Bitstamp.
According to the data many users still prefer centralized cryptocurrency exchanges, despite the risks posed by the lack of control over the keys. In 2018, cryptocurrency investor and entrepreneur Trace Mayer called on cryptocurrency owners to regain control of private keys.
Recall that, according to the latest data from Glassnode, the number of Bitcoin addresses belonging to “whales “is decreasing, which may be a sign of an imminent” bullish ” rally.