Story by: Anton Lucian
Exchanges have been eating up more and more of Bitcoin’s circulating supply, now accounting for 6.7% of all HODLers. The trend has been accelerating since 2017.
It’s no secret that cryptocurrency exchanges are some of the most influential entities in this industry. Not only do they provide liquidity, but they also set the playing field for the entire market. However, exchanges are also some of the biggest Bitcoin holders in the entire market — and the percentage of their holdings per Bitcoin’s circulating supply is only getting larger.
According to TokenAnalyst (@thetokenistanalyst), exchanges are by far the biggest HODLers in the entire cryptocurrency market. Approximately, 6.7% of all BTC in circulation is held by exchanges. That’s around $9.8B worth of Bitcoin.