The crypto economy has come awfully close to nearing the $3 trillion handle as far as the value of all 10,000+ crypto assets is concerned. Today, crypto market aggregation sites show that the entire crypto-economy at $ 2.756 billion is worth more than Apple’s market cap value at $ 2467. Furthermore, the top ten crypto-asset exchanges, in terms of cryptocurrencies held in reserves, hold more than $200 billion or 7.47% of the entire crypto economy.
10 centralized crypto exchanges hold 7.47% of the value of the crypto economy in custody
Digital currencies are much more valuable today than they were a month ago and the crypto economy is on the verge of surpassing $ 3 trillion. The whole crypto-economy surpassed Apple’s overall worth this past week as bitcoin (BTC) became the sixth-most valuable asset on earth and ethereum (ETH) is now the 15th-largest global asset. While BTC has a market cap of $ 1.2 trillion, ETH has a market valuation of over $ 500 billion.
Meanwhile, the top ten crypto asset trading platforms, in terms of cryptocurrencies held in reserves, hold 7.47% of the entire crypto-economy under custody. The top ten crypto asset exchanges that hold the most value in crypto assets on hold are Coinbase, Binance, Huobi Global, Kraken, Okex, Gemini, Bitfinex, Bittrex, Bitmex, and Bitflyer respectively. All ten of these exchanges on Thursday, October 21, 2021, hold approximately $206.263 billion using today’s exchange rates.
Coinbase orders 35% of $ 206 billion held in reserves by top 10 trading platforms
Thursday’s “Exchange Transparent Balance Rank” data is provided by Bituniverse with assistance from Peckshield, Etherscan and Chain.info. Of the $ 206 billion held on centralized exchanges, Coinbase owns 35.84% with $ 73.84 billion held in reserves. Binance holds 14.78% of the $206 billion with $30.46 billion. Both Bitmex and Bitflyer hold the least amount of crypto reserves in the top ten positions, with Bitmex holding $7.27 billion and Bitflyer holding $4.89 billion in crypto reserves.
These ten exchanges combined are worth more than the aggregate market cap of Fortune 500 companies like Comcast, Pfizer, Cisco, Coca-Cola, and Intel. It’s safe to say that the top ten crypto exchanges in terms of crypto reserves held in custody are becoming heavyweight behemoths in the world of finance, thanks to the growing value of the crypto economy.