Close to $10 billion in BTC is held in the wallets of 8 crypto exchanges – The South African

Close to 7% of the entire circulating supply of Bitcoin (BTC) is held in the wallets of eight major cryptocurrency exchanges as per data from The Token Analyst, a popular crypto-Twitter commentator.

Crypto exchanges are the biggest HODLers

On October 8, the Token Analyst wrote that, historically, the amount of bitcoin (BTC) held in exchange wallets has been on the rise.

Token Analyst’s Twitter account, which provides its followers with real-time and historical blockchain and crypto data, estimates that nearly 1.2 million coins are currently being held in the wallets of eight major exchanges. The Token Analyst has begun describing these accounts as “the biggest HODLers.”

Token Analyst shared a graph to accompany his Tweets, which indicates that Huobi Group is currently the leader of the pack of crypto exchanges, currently holding the most BTC in its wallets. Binance and BitMEX are currently contesting for second place.

HODL – an affectionate and old crypto term

One of the crypto community’s most well-known words is celebrating a birthday party on December 18. The term “HODL” was coined (excuse the pun) on BitcoinTalk nearly six years ago when Bitcoin entered into a crash phase following its rally to $1,000.

Bitcoin price movement

Yesterday saw the top 20 digital currencies showing mixed signals, following a sea of green earlier in the day as Bitcoin (BTC) struggled to stay above $8,000 as per data from CoinMarketCap.

Bitcoin’s price managed to hold onto the $8,000 support throughout the day, reaching a high of $8,355 and a low of $8,157. At the time of writing, BTC is down by 0.54% & trading at $8,226.01.

Altcoin markets react

Ether (ETH) is down by 0.12%, trading at $182.28, XRP is down by 0.58%, selling off at $0.277220 and Bitcoin Cash (BCH) has shed 1.08%, exchanging hands at $232.72. Tether (USDT) is up by 0.24%, trading at $1.01, Litecoin (LTC) is seeing a loss of 0.27% , selling at $57.61 and EOS has shed 0.50%, changing hands at $3.17.

Notably, Binance Coin (BNB) is up by 3.68%, selling at $16.70. Bitcoin SV (BSV) is down yet again, this time by 0.64%, selling at $84.21 and lastly, Stellar (XLM) is up by a modest 0.49%, exchanging hands at $0.062509.

Remember to check in at 14:00 for your daily cryptocurrency news and prices. Protection Status


Leave a Reply