The amount of bitcoin held on trading platforms continues to fall. On March 12, 2020, after the infamous Black Thursday, when BTC prices fell from $7.6 thousand per coin to $3.8 thousand, a little over 3 million bitcoins were stored on cryptocurrency exchanges, and on May 2, 2022, only 2,481 million bitcoins, as evidenced by the data on the website cryptoquant.com.
At the beginning of the month, there was a brief spike in BTC exchange deposits. By May 7, their number increased by 2%, to a local maximum of 2.532 million bitcoins. The following week, the index began to decline again. As of May 23, the number of bitcoins on exchanges amounted to 2.503 million.
Of the $73 billion in bitcoin held on trading platforms, the top 5 exchanges have accumulated more than $50 billion in BTC, Bitcoin.com reports citing sources.
Coinbase holds approximately 34% of the total bitcoin held on exchanges. This is 853,530 BTC, which is valued at around $25.14 billion.
Binance is the second-largest exchange in terms of BTC holdings as it currently controls 340,410 BTC worth approximately $10 billion (13.58%).
Okex holds the third-largest position in terms of BTC holdings: 266,530 BTC or 10.62% of the total.
Huobi Global holds the fourth largest position with 160,950 bitcoins (6.39%) held on the platform.
Crypto exchange Kraken is the fifth-largest holder of BTC with 102,900 bitcoins or 4.07%.
These five exchanges together hold 1.724 million BTC, i.e. 68.66% of the total 2.503 million BTC held on the exchanges.