HomeCryptoEthereumTop exchanges hold at least 12 million Ethereum

Top exchanges hold at least 12 million Ethereum

Looking at the list of the richest addresses on the Ethereum blockchain it is possible to estimate the quantity of ETH owned by the top exchanges of cryptocurrencies. At the moment, in fact, the best crypto exchanges hold about 12 million Ethereum, a figure – albeit approximate – well below the initial estimates.

The major exchange Binance holds about 2.1 million ETH, divided into a wallet of almost 2 million ETH and other minority cold wallets of a few thousand ETHs. It is a figure equal to $370 million dollars, considering the current ETH price of just over $180 dollars. In total, therefore, Binance holds only 2% of the entire supply of ETH.

However, in the first place, there is Bitfinex, which alone holds almost 3 million ETH divided into different addresses, of which almost two million on the new cold wallet of 2018. Bitfinex, therefore, holds almost 3 million ETH, equivalent to a total value of $540 million dollars.

Bitfinex also holds approximately $700 million in tokens, of which $600 million alone in the token of its own IEO – which is LEO – followed by 17 million SAN. Binance, on the other hand, holds almost 900 million tokens circulating on the Ethereum blockchain, of which 170 million are Chainlink tokens.

At least 12 million Ethereum held by the best exchanges

Continuing in the ranking, in second place in the ranking is Kraken, one of the top exchanges to have listed the cryptocurrency on its platform, which currently holds almost 2.5 million ETH, almost 20% more than Binance. It is an asset of $450 million dollars.

Moving on to the fourth step of the podium, it is surprising the presence of the Bittrex exchange, an exchange that apparently seems distant in terms of volume from giants such as Kraken, Binance and Bitfinex, but which is actually active in ETH trading before Kraken, second only to the well-known Poloniex.

Bittrex seems to have almost 1.5 million ETH divided into three wallets (270 million dollars), plus almost $200 million dollars of various tokens.

Among the other exchanges, Houbi and Gemini are reported, with about 800 thousand ETH each ($150 million dollars), followed by the Korean platform Upbit, now the holder of about 300 thousand ETH, placing itself well at the bottom of the ranking.

Apparently there are no exchanges such as Coinbase, Bithumb and others, but in reality, the ETH owned by these platforms are simply divided into several unlabeled addresses. For example, Coinbase tends to divide its cold wallets into addresses of up to 5,000 ETH each, thus not being on the list of the richest.

It is therefore difficult to estimate the amount of Ethereum owned by the Coinbase exchange, even if, given the volumes, it is possible that it is placed between the third and fourth place in the ranking, in competition with Bittrex.

Bitfinex in the first place, followed by Kraken and Binance

According to public data, therefore, in the first place is Bitfinex, which holds 3 million ETH, about 2.8% of the money supply, while Kraken and Binance hold 2.4% and 2% respectively.

In total, it can be estimated that the major exchanges hold about 12 million ETH, equivalent to about 10% of the currency supply, although the absence of a clear figure of Coinbase and other minor exchanges suggests that this figure is realistically close to or just over 15%.

This is a rather low percentage, since most of the funds are found in wallets of users, companies, ICOs and smart contracts. It is therefore difficult to quantify how many of them are in constant movement between the various platforms, which from the data just analyzed are not the main holders.