Study finds nearly a quarter of Ethereum held in centralized-exchange wallets

About 26.7 million Ethereum are held on centralized-exchange wallets (~$10.12 billion). This accounts for 23.6% of the circulating supply of the second-largest cryptocurrency by market cap, according to data from analytics platform ViewBase.

The top five by coin count are:

• Coinbase (8.5 million ETH);
• Bittrex (5.27 million ETH);
• Huobi (3.29 million ETH);
• Binance (2.87 million ETH);
• Kraken (2.43 million ETH).

Dynamics of Ethereum on exchange balances. Source: ViewBase.

The absolute minimum on the aggregated indicator was 16.6 million ETH, recorded on March 12, 2018. Over the last 30 days the indicator declined by 1.08 million ETH.

According to Santiment, over the past two months the number of coins on the wallets of the top-10 holders has decreased by 20.5% (as of October 20).

According to Glassnode, the number of Ethereum on exchange balances fell to 16.28 million. The last time such low levels were observed was December 10, 2019.

Dynamics of Bitcoin on exchange wallets. Source: Glassnode.

Five major centralized exchanges hold more than a tenth of circulating BTC.

Earlier, Chainalysis пришли to the conclusion that 3.72 million issued bitcoins are likely irretrievably lost. Taking this into account, almost 15% of circulating BTC is held on five exchanges.

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