Data | The top five centralized exchanges hold 10% of the total Bitcoin supply

According to data from Chain.info, just five centralized exchanges currently hold approximately 10.6% of the circulating supply of Bitcoin (BTC).

Currently, the five major centralized exchanges Coinbase, Huobi, Binance, OKEx, and Kraken hold a total of more than 1.96 million bitcoins.

Likely due to its custodial service, Coinbase holds the largest amount of Bitcoin to date, with 944,904 Bitcoins currently distributed across approximately 4.39 million different wallet addresses on the platform.

Huobi ranks second, holding 323,665 bitcoins in 901,600 different wallet addresses. Binance ranks third, with 270,961 bitcoins in nearly 2.7 million wallet addresses. OKEx holds 276,184 bitcoins in 339,000 wallet addresses, while Kraken holds 126,510 bitcoins in 672,000 wallet addresses.

There are seven other exchanges: Bitflyer, Bittrex, Bitfinex, Poloniex, Coincheck, Gate.io, and Bitstamp, which together hold 210,000 Bitcoins.

Data shows that many users still prefer to take the security risks associated with entrusting the majority of their assets to centralized exchanges for safekeeping, despite the decentralized nature of cryptocurrencies and a popular saying in the crypto community: "Not your keys, not your bitcoin."

Chainalysis recently estimated that 3.7 million bitcoins that have not been in circulation for more than five years may have been lost, so the number of bitcoins held by the top five centralized exchanges may actually be far more than 10% of the total supply. If this is true, the top five centralized trading platforms currently host nearly 15% of the total supply of Bitcoin.

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