Binance and Coinbase Lead BTC and ETH, Hold 11% of Crypto Market – TokenPost

Binance and Coinbase lead BTC and ETH, own 11% of the crypto market

Binance and Coinbase have become giants of the cryptocurrency industry, with a staggering 11.85% share of the $1.68 trillion digital currency economy. Beyond pure market capitalization, these giants control 7.83% of the total bitcoin supply, demonstrating their significant influence on the crypto landscape.

Binance leads trading activity

In the recent 24-hour trading period, Binance took the lead with an impressive $15.87 billion in trading activity, cementing its position as the top exchange.

According Bitcoin News, Coinbase followed closely as the second largest exchange, overseeing transactions totaling $2.91 billion. The dominance of these platforms is even more evident in their control over cryptocurrencies valued at $199.14 billion, signifying their profound impact on the broader crypto market.

Crypto Reserves and Bitcoin Holdings

Data from Arkham Intelligence highlights the significant cryptocurrency holdings of Binance and Coinbase. Binance, which leads the duo, has a crypto value of $136.47 billion, while Coinbase manages around $62.67 billion. These exchanges collectively hold 1,645,499 BTC, representing 7.83% of the limited BTC supply of 21 million. Coinbase has 978,577 BTC, closely followed by Binance with 666,922 BTC.

Various crypto wallets

Digging deeper into their extensive cryptocurrency portfolios, both Binance and Coinbase exhibit diversified holdings. According Arkham Intelligence, Binance owns a significant amount of Ethereum, totaling 4.47 million, while Coinbase tops it with 7.058 million ETH. This diverse mix of assets extends to other cryptocurrencies, showing the broad spectrum of digital assets these exchanges manage.

Industry influence and future trajectory

The dominance of Binance and Coinbase underscores the evolving landscape of digital finance. With substantial holdings in several cryptocurrencies, these platforms exert force in the market and play a critical role in shaping industry trends.

Its influence may extend beyond trading volumes, impacting Bitcoin liquidity and contributing to the overall evolution of the crypto ecosystem. As these key players continue to have significant influence, their strategic moves will likely shape the trajectory of the digital currency markets for the foreseeable future.

Photo: Kanchanara/Unsplash

Token publishing | [email protected]