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Binance Overtakes Coinbase As Largest Bitcoin Reserve Holder

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As per recent reports, crypto giant Binance has now become the largest Bitcoin reserve holder for the first time ever. An “exchange reserve” is an indicator that indicates the total quantity of Bitcoin that is currently stored in the wallets of a centralized exchange.

When this metric’s value increases, it indicates that investors are currently depositing their coins to the exchange. On the other side, a decline means that holders are currently withdrawing their BTC from that exchange. Here is a graph that displays the trends in the reserves held by the major market platforms for Bitcoin over the past few years.

As can be seen from the above graph, the Bitcoin exchange reserves of almost all the major players have been declining sharply recently.

(by Pratik Bhuyan)

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