BTC

$97199.732

-1.10%

ETH

$3387.23

-1.65%

XRP

$2.275

-1.59%

BNB

$666.856

-1.62%

News

Binance Overtakes Coinbase To Become The Exchange Holding The Most BTC

July 18, 2022 - Around 2 mins mins to read
According to Glassnode data shared by crypto analyst Will Clemente, Binance has overtaken Coinbase to become the exchange that holds the most BTC.
Binance Overtakes Coinbase To Become The Exchange Holding The Most BTC

A recent report by Glassnode Insights notes that Coinbase has seen a net outflow of Bitcoin over the past two years, totaling over 450,000 BTC.

The report states that Coinbase’s BTC balance has consistently decreased from 10,000 to 30,000 BTC and adds that this drop is due to the transfer of these coins to new wallets unrelated to Coinbase.

Binance Overtakes Coinbase To Become The Exchange Holding The Most BTC

On the other hand, over the same period, Binance’s net balance has increased by about 300,000 BTC. As a result, Binance has toppled Coinbase to become the exchange with the largest supply of Bitcoin, as highlighted by Will Clemente.

In its weekly online newsletter, Glassnode noted many signs that a deep and full-blown sell-off has occurred as the Bitcoin price has now been trading below the Realized Price for more than a month. Therefore, many signals suggest that a bottom formation may occur.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Harold

CoinCu News

#Bitcoin

Binance

BTC

Coinbase

Glassnode

Will Clemente

Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
News

Binance Overtakes Coinbase To Become The Exchange Holding The Most BTC

According to Glassnode data shared by crypto analyst Will Clemente, Binance has overtaken Coinbase to become the exchange that holds the most BTC.
Binance Overtakes Coinbase To Become The Exchange Holding The Most BTC

A recent report by Glassnode Insights notes that Coinbase has seen a net outflow of Bitcoin over the past two years, totaling over 450,000 BTC.

The report states that Coinbase’s BTC balance has consistently decreased from 10,000 to 30,000 BTC and adds that this drop is due to the transfer of these coins to new wallets unrelated to Coinbase.

Binance Overtakes Coinbase To Become The Exchange Holding The Most BTC

On the other hand, over the same period, Binance’s net balance has increased by about 300,000 BTC. As a result, Binance has toppled Coinbase to become the exchange with the largest supply of Bitcoin, as highlighted by Will Clemente.

In its weekly online newsletter, Glassnode noted many signs that a deep and full-blown sell-off has occurred as the Bitcoin price has now been trading below the Realized Price for more than a month. Therefore, many signals suggest that a bottom formation may occur.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Harold

CoinCu News