Coinbase is the largest bitcoin holder among exchanges, followed by Huobi and Binance

Cryptocurrency exchanges hold around 3.08 million bitcoins on their customers’ behalf, nearly 16.5% of the total supply of 21 million, according to research conducted by The Block’s Larry Cermak.

While the absolute amount looks large, the percentage figure is down by 10% since February 9 when exchanges held around 3.43 million bitcoins, representing nearly 19% of the total supply.

Notably, Coinbase is the largest bitcoin holder, having around 984,300 BTC in its wallets. Coinbase is followed by Huobi (413,000 BTC), Binance (318,000 BTC), OKEx (268,000 BTC), and BitMEX (217,000 BTC).

Source: The Block, bitUniverse, chain.info, Glassnode Peckshield, BitFury, BitcoinWhosWho

The Block analyzed data from different sources, including bitUniverse, chain.info Glassnode, Peckshield, BitFury and BitcoinWhosWho, to find the most accurate amount of bitcoins held by crypto exchanges.

To read the full analysis and more such data-driven stories, subscribe to The Block Research.

© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.