Binance’s Bitcoin stock is the highest!Overtakes Coinbase as the Exchange with the “Most BTC”

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Binance’s Bitcoin stock is the highest!Overtakes Coinbase as the Exchange with the “Most BTC”
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The struggle for supremacy among cryptocurrency exchanges has always been about trading volume and bitcoin holdings. Binance, the world’s largest trading volume, recently overtook Coinbase to become the cryptocurrency exchange holding the most bitcoin in the world, according to Glassnode.

Specifically, over the past 26 months, Coinbase’s bitcoin stock has dropped by nearly 40%, from holding more than 1 million bitcoin in 2020 to less than 600,000 now, while Binance’s bitcoin The stock has grown by 100% over the same period.

As the cryptocurrency market plunges into the winter, the two exchange giants are facing stark contrasts. Coinbase has been struggling for the past few months, first turning from profit to loss, then announcing 18% layoffs, and the stock price has taken a hit. Recently, many Coinbase users complained that they could not withdraw, leading to rumors that Coinbase was on the verge of bankruptcy and insolvency.

On the other hand, Binance CEO Changpeng Zhao (CZ) said that Binance has good capital reserves and is actually expanding talent recruitment, while also accelerating the pace of mergers and acquisitions.

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In response to Glassnode’s discovery, Nicolasde Bontin, head of asset sales at Coinbase, expressed doubts, arguing that the relevant information was untrue.

Inferring from the data provided by Glassnode, Nicolasde Bontin believes that they may have only looked at hot wallets and known token addresses, but this is actually an unreliable indicator as most exchanges have assets stored in cold wallets and unsecured wallets. marked address.

This article Binance has the highest Bitcoin stock! The exchange that surpassed Coinbase as “holding the most BTC” first appeared on Blocker.



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