Publishing The Block conducted a study of the wallets of the cryptocurrency exchanges, according to the results of which are stored on the amount bitcoin and esters declined by 6%, and the volume of tokens USDT – 40%.
At the moment in the famous purses of various exchanges is stored 716 000 BTC (4,1% of the issue), ETH 7 million (6.8%) and 1.2 billion USDT (63.5 per cent). Of course, the study did not get purses that may belong to the cryptocurrency exchanges, but this information is not confirmed. Also some exchanges keep a significant amount of cryptocurrency, for example, Coinbase and BitMEX, but their wallets are unknown.
It is noteworthy that in December the exchange Coinbase has transferred 5% of the existing volume of bitcoins and 8% of the existing volume of ethers in the course of service of wallets. The addresses of these purses are unknown, so the claims data is difficult to verify. However, if they are true, then at least 10% of the issued bitcoins are held in accounts of various exchanges.
The number stored on the wallets bitcoin exchanges fell by about 6% in comparison with indicators of the beginning of October last year. This may indicate either a reduction in trading volumes or on the withdrawal of clients ‘ funds with the trading platforms. Most “lost” wallets exchanges Bitfinex, Kraken, and Poloniex, but Huobi even increased the amount stored on the exchange of bitcoins.
Also, 6% decreased and the number of esters that are stored on the wallets of exchanges. Most of the lost Gemini, OKEx and Gate.io, and an increase noted exchange Kraken and Bittrex.
Most interesting is the change of balance stablon Tether (USDT). All monitored exchange significantly reduced the amount of stored funds, which, however, was not a big surprise. However, the average decline in USDT on the wallets of the companies amounted to about 40%. This is due to the “burning” of 500 million tokens USDT at the end of October, and with the development of competing tablconv USDC, Paxos and Gemini Dollar.
At the moment, most of the funds kept in the wallets of the exchange Binance about $1.5 billion only at the expense of bitcoin, ether and Tether. Then comes the Huobi ($904 million), Bitfinex ($824 million), Bittrex ($708 million) and the Kraken ($570 million). As for the other exchanges, then, unfortunately, the authors of the report were insufficient data.
Below are the various cryptocurrencies in the volume stored on different exchanges funds:
The study authors noted that the decrease of the volume stored on the exchange funds may indirectly reflect the trading volume, so as to fake the balances in the wallets impossible. Thus, the trend to reduce the amount of funds stored may indicate the decrease in trading volumes on most of the cryptocurrency exchanges.
A recent study showed that bearish trend 2018 has led to an increase in the correlations on the leading markets of cryptocurrencies. According to the study, 10 of the 15 largest market capitalization of crypto-currencies show a price correlation of over 64%.
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