5 Crypto Exchanges Custody 1.6 Million Bitcoin or Close to 8% of the Capped Supply

As of this writing, 90% of 21 million bitcoin’s supply cap have been mined. There are currently 18,899,800 Bitcoin mined. In the near future, 19,000,000 bitcoin will be mined.

Also, we know that a substantial fraction bitcoin has been lost. Satoshi Nakamoto could have mined approximately 1.1 million BTC prior to leaving the bitcoin community. An study published November 19, 2019 by Coin Metrics indicates that the estimated amount of coins lost was approximately 1.5 million at block height 600,000.

Five exchanges currently hold 1,673,460 Bitcoin or $81.6 billion at today’s USD exchange rates. These five exchanges include Okex, Binance Huobi, Kraken and Kraken. They also hold significant amounts of ethereum. According to metrics from Bituniverse and Chain.info, Coinbase has 853,530 Bitcoin.

Although the company’s ether holdings have not been disclosed, Coinbase controls 51% of all bitcoins traded on the top five exchanges. Binance has 290,080 Bitcoin worth $14.1 billion. Binance also holds 3.59 million Ethereum worth $14.2 billion. Binance also has 1.24 BILLION USDT of tether in its reserves.

Top 10 Crypto Exchanges Keep 7% of the $2.3 Trillion Crypto Economy

Huobi currently has 160,950 Bitcoin, 2.13 million Ethereum, and 747 millions USDT. According to metrics, Kraken has 102.900 Bitcoin in reserve and 2.27 million Ethereum. Okex is the fifth largest digital currency exchange by BTC reserve. It has approximately 266,530 bitcoin, but only 248,840 of ethereum.

Gemini’s 116,000 Bitcoin and 1.15 Million ether are followed by Bitfinex’s 353,660 Ethereum in reserves and 195,550 . These exchanges are Bittrex (48.110 BTC 301,370 Ethereum), Bitmex (11.1 million ether) and Bitflyer (75.030 TTC). These five top crypto exchanges have $132.36 billion in reserves.

All the reserves on the top ten exchanges add up to $165.89 trillion. To put it in perspective, the crypto value of the top ten exchanges is more than that of the entire stablecoin market which is $162.6 billion. The crypto currency’s $2.343 trillion worth of funds is actually held by approximately 7.07% of its top ten trading platforms.