10% of all bitcoins are concentrated on five exchanges, and 60% of ETH has not moved in over a year
10% of all bitcoins are concentrated on five exchanges
According to Chain.info, about 10.6% of circulating bitcoins are concentrated on only five centralized exchanges.
Today, Coinbase, Huobi, Binance, OKEx, and Kraken platforms hold about 1.96 million BTC.
Most of the coins are contained on Coinbase addresses — 944,904 BTC. They are distributed among 4.39 million wallets. This is most likely due to the custody services that the platform provides.
Second place is held by Huobi with 323,665 BTC, followed by Binance with 289,961 BTC, OKEx with 276,184 BTC, and Kraken with 126,510 coins. The next seven exchanges — Bitflyer, Bittrex, Bitfinex, Poloniex, Coincheck, Gate.io and Bitstamp — hold about 210,000 BTC collectively between them.
The data shows that many users still choose to accept the security risks associated with holding assets on centralized exchanges, despite the fundamental spirit of cryptocurrency decentralization.
60% ETH has not moved in over a year
More than half of the Ethereum supply has not moved in over a year, and only 39.6% of coins have changed hands in the last 12 months, according to Glassnode.
About 28% of ETH last moved 12–24 months ago, which represents the largest segment of network activity. Data shows whales have been using 2019 to hoard coins ahead of the Ethereum 2.0 launch expected in the coming months.
Thanks to the network’s transition to the Proof-of-Stake algorithm, coin holders will be able to earn passive income by participating in staking. The more coins are stored in the wallet, the higher the potential profit.
About 20% of ETH has not moved since October 2017, and analysts are monitoring whether holders will be transferring these coins to participate in staking.