Binance Rises to Leadership in This Area: It Passes Coinbase!

According to the latest data Binance, coinbasethe largest in the market, surpassing Bitcoin (BTC) got the reserve.

Binance Overtakes Coinbase as Holder of the Largest Bitcoin (BTC) Reserve

According to recent reports, cryptocurrency For the first time ever, giant Binance has become the owner of the largest Bitcoin reserves. The “exchange reserve” is an indicator that shows the total amount of Bitcoin currently stored in the wallets of a centralized exchange.

Bitcoin exchange reserves of almost all major players have been falling sharply recently.

The collapse of FTX is the root cause of this rapid bearish trend occurring. As a result of FTX’s bankruptcy, investors across the market have become increasingly skeptical of centralized exchanges.

Because of this, investors are making substantial withdrawals to store their coins in the wallets where they hold their keys.

However, one crypto exchange in particular has made a very remarkable development. Unlike other exchanges, Binance’s reserve increased during this period.

Following the collapse of FTX, Binance first noticed a significant drop in its reserves as well, but recently there has been a significant increase in exchange deposits.

The exchange’s Bitcoin reserve has seen a rapid increase lately, not only making up for the previous drop but surpassing it.

Coinbase, which previously held the title of being the largest exchange in terms of BTC reserves, now lags behind those of Binance, which has reached an all-time high.

*Not investment advice.