Binance and Coinbase continue to stand out as the world’s top cryptocurrency exchanges, both in terms of daily trading volumes and the cryptocurrency reserves under their management.
In a sample 24-hour period:
- Binance took the lead with a significant $15.87 billion in trading activity
- Coinbase recorded $2.91 billion in trades
Data from Arkham Intelligence indicates that these exchanges collectively hold cryptocurrencies valued at $199.14 billion, constituting 11.85% of the entire crypto economy. Binance takes the lead with holdings amounting to $136.47 billion, while Coinbase maintains approximately $62.67 billion in crypto value.
Specifically, Coinbase holds 978,577 BTC, while Binance commands 666,922 BTC. Together, Coinbase and Binance manage a total of 1,645,499 BTC, valued at $70.49 billion based on current exchange rates. This represents approximately 7.83% of Bitcoin’s capped supply of 21 million.
Presently, Coinbase and Binance, which are emerging as 2 of the leading crypto lobbyists, control about 8.39% of the circulating 19,597,705 BTC.
In addition to Bitcoin, both exchanges also hold a substantial amount of Ethereum:
- Binance holds 4.47 million ETH, while
- Coinbase has an even larger stash with 7.058 million Ether
Coinbase and Binance collectively control around 9.58% of the total circulating supply of 120.18 million Ether.
- Binance’s largest holding, according to Arkham, is 164.54 million BNB (Binance Coin), valued at $49.70 billion as of January 13, 2024. The second-largest holding is Bitcoin, and the third-largest is Tether (USDT), with Binance owning 25.39 billion USDT. Ether is 4th while the fifth-largest asset by value is FDUSD, of which Binance holds 1.9 billion.
- In the case of Coinbase, apart from BTC and ETH, the third-largest asset by value on the exchange is LINK, with a holding of 77.67 million LINK valued at $1.11 billion. The fourth-largest asset is USDC, amounting to 575.63 million, and in fifth place is Coinbase’s stash of 921,875 BNB (Binance Coin), valued at $278 million. Other notable holdings on Coinbase include 930 million GRT (The Graph), 11.91 million UNI (Uniswap), and 160 million ZRX (0x).
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