Data shows Binance has now surpassed Coinbase to become the exchange with the largest Bitcoin reserve in the market.
Bitcoin Reserve Of Crypto Exchange Binance Has Shot Up Recently
As pointed out by an analyst in a CryptoQuant post, Binance has become the largest BTC reserve holder for the first time ever.
The “exchange reserve” is an indicator that measures the total amount of Bitcoin currently being stored in the wallets of a centralized exchange.
When the value of this metric rises, it means investors are depositing their coins to the exchange right now. On the other hand, a decrease suggests holders are taking their BTC out of that exchange at the moment.
Now, here is a chart that shows the trends in the Bitcoin exchange reserves for the major platforms in the market over the last few years:
Looks like most of the exchanges have seen a large amount of outflows in the last couple of weeks | Source: CryptoQuant
As you can see in the above graph, the Bitcoin exchange reserves of
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