Binance Surpasses Coinbase In Holding The Largest Bitcoin Exchange Reserves

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Changpeng Zhao; Photo Source: News 13 Sports
According to CryptoQuant, “For the first time, Binance has surpassed Coinbase Pro to take the top spot in terms of Bitcoin reserves on the exchange, marking absolute strength during this bloody period.”

Data from analytics firm CryptoQuant revealed that Binance’s Bitcoin reserves have hit the 575K mark. 

CryptoQuant’s report claimed that the Bitcoin reserves of crypto exchanges have spiked significantly following the FTX fiasco. Its findings were synonymous with Glassnode’s report that revealed a negative exchange volume momentum during November.

Like other exchanges, Binance also saw a decrease in its Bitcoin influx. However, it has now surpassed Coinbase in holding the largest Bitcoin exchange reserves, with its weekly Bitcoin balance up by 136.5K BTC tokens. 



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Besides Binance and Coinbase, other exchanges that own large Bitcoin holdings include Bitfinex, Gemini, and Kraken. Interestingly, Binance is the only exchange among the five that witnessed a positive Bitcoin influx over the past week.

Meanwhile, FTX’s Bitcoin holdings have plummeted by over 99.96% since the beginning of November. As of writing, FTX holds roughly 7.12 BTC tokens.

Written by
Ayush Pande
According to CryptoQuant, “For the first time, Binance has surpassed Coinbase Pro to take the top spot in terms of Bitcoin reserves on the exchange, marking absolute strength during this bloody period.”

Data from analytics firm CryptoQuant revealed that Binance’s Bitcoin reserves have hit the 575K mark. 

CryptoQuant’s report claimed that the Bitcoin reserves of crypto exchanges have spiked significantly following the FTX fiasco. Its findings were synonymous with Glassnode’s report that revealed a negative exchange volume momentum during November.

Like other exchanges, Binance also saw a decrease in its Bitcoin influx. However, it has now surpassed Coinbase in holding the largest Bitcoin exchange reserves, with its weekly Bitcoin balance up by 136.5K BTC tokens. 



Get Our Free Newsletter

Subscribe to our newsletter to get tips, our favorite services, and the best deals on Bitcompare-approved picks sent to your inbox


Besides Binance and Coinbase, other exchanges that own large Bitcoin holdings include Bitfinex, Gemini, and Kraken. Interestingly, Binance is the only exchange among the five that witnessed a positive Bitcoin influx over the past week.

Meanwhile, FTX’s Bitcoin holdings have plummeted by over 99.96% since the beginning of November. As of writing, FTX holds roughly 7.12 BTC tokens.

Written by
Ayush Pande