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Bitcoin (BTC) is once again disappearing from centralized cryptocurrency exchanges as the number of coins is far below the lows recorded on November 15, 2020. 249 days ago, on March 12, 2020, the day after the infamous Black Thursday, just over 3 million BTC were stored on centralized digital currency trading platforms.
During this period, the number of bitcoins stored on exchanges fell by 15.86% from 3 million BTC on March 12 to 2,524 BTC on November 15, 2020. In May, this indicator reached two significant lows.
Data cryptoquant.com show that on May 2, 2022, 2.481 million BTC were stored on exchanges, which is 1.70% less than the number of BTC recorded on November 15, 2020. However, against the background of the fall of the Terra blockchain and the abolition of the TerraUSD (UST) binding, there was a short-term surge in BTC deposits received on exchanges.
After the may 2 low, BTC deposits sent to centralized crypto exchanges increased by 2%. However, this figure changed very quickly, as the maximum of 2.532 million bitcoins on May 7 fell over the next week by 2.21% to 2.476 million bitcoins.
On May 22, 2.503 million bitcoins worth $73.7 billion were stored on digital currency trading platforms Data provided by Bituniverse’s Exchange Transparent Balance Rank shows that Coinbase holds approximately 34% of the bitcoins stored on exchanges. We are talking about 853530 BTC, which are estimated at about $ 25.14 billion at current exchange rates.
13.58% of the 2.503 million bitcoins stored on exchanges are on Binance, which controls 340,410 BTC worth about $10 billion.
Okex ranks third in terms of BTC reserves, as it currently owns 266530 BTC or 10.62% of the total. Huobi Global occupies the fourth largest position, 160,950 bitcoins are stored on the platform, or 6.39% of the total 2.503 million bitcoins stored on exchanges.
Cryptocurrency exchange Kraken became the fifth largest holder of BTC with 102,900 BTC or 4.07%. The five trading platforms mentioned above account for 68.66% of the 2.503 million bitcoins.
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