One Billion Digital Currencies worth Exceeding $ 165 Billion Lying Into Lead Crypto Exchanges’ Reserves

As the year 2022 has already begun, annual assessments have started to be carried out within the digital economy sector as well.

The past year was one of the most successful years in terms of the digital currency economy. There were many astonishing achievements in the sector in 2021. First of all, the global crypto economy doubled since 2020 and is currently over US$ 2.3 Billion. Within this economy, more than 7% is shared by stablecoins which, in terms of value, is US$ 168 Billion.

Interestingly, 7% of the total crypto economy is also lying in the reserves of top crypto exchanges. For instance, there are a total of 13 crypto exchanges in the world that are holding more than a billion digital currencies whose worth exceed US$ 165.5 Billion. These firms include some of the biggest and finest crypto trading platforms of the world such as Coinbase, Binance, and Huobi Global.

If one examines how much worth of digital currencies are lying in Coinbase’s reserve, then noticeably Coinbase is at the top. It holds digital currencies worth more than US$ 56.2 Billion approximately. Coinbase is also globally accepted as the biggest crypto trading platform in the world which had become a public listed company in 2021.

Coinbase is followed by its competitor, Binance, which too is the biggest exchange in the world but by its crypto trade volume. US$ 24.85 Billion worth of digital currencies is currently under possession of Binance. Similarly, the third biggest crypto platform in the world, Huobi Global, is also very near to catching up with Binance’s crypto reserve.

Huobi’s crypto reserve is over US$ 20.62 Billion which shows that it is only US$ 4 Billion short of matching Binance’s crypto reserve. The fourth and fifth spots have been retained by firms such as Kraken and OKEx. The cryptocurrencies under their management are worth more than US$ 15 Billion and US$ 11 billion respectively.

Amongst these top 5 crypto exchanges, they are jointly managing cryptocurrencies worth more than US$ 127.67 Billion only. While the rest of US$ 44 Billion worth of cryptocurrencies is under management by firms namely Gemini, Bitfinex, Bittrex, BitMEX, and bitFlyer.

The majority of these firms’ crypto reserves are dominated by Bitcoin which represents 50% of the asset under management by these firms. For instance, the value of Bitcoins under Coinbase’s management is roughly over US$ 40 Billion.

This meant that at least 853,530 BTCs in total are lying in Coinbase’s reserve. Binance too is also controlling a total of 370,390 BTCs whose value can be determined to be above US$ 24.85 Billion.

The Crypto community is hopeful that in 2022, the crypto economy will once again be doubled 2021. Also, they are confident that Bitcoin is now on the path of becoming a hundred thousand dollars’ worth of crypto.