Over 10% of Bitcoin’s supply is currently held on just five centralized exchanges, Coinbase holds by far the most

More than 1.96 million BTC, about 10.6% of Bitcoin’s circulating supply is currently held on just five centralized exchanges Coinbase, Huobi, Binance, OKEx, and Kraken, according to Chain.info.

Coinbase holds by far the most, with 944,904 BTC currently spread across approximately 4.39 million different wallet addresses.  In December 2019, Coinbase was holding 966,230 Bitcoin. Yet, Bitcoin’s price has grown significantly since then—up to its current value of $11,420. And as Bitcoin’s price continues to rise, Coinbase’s reserves grow more valuable by the day.

“It might be the world’s largest honeypot, a lot of people surely wish they had a quantum computer,” Elias Strehle, a researcher at Blockchain Research Lab, told Decrypt.

Huobi ranks second with 323,665 BTC held in roughly 901,600 unique wallets, followed by Binance with 289,961 BTC across nearly 2.7 million addresses.

OKEx has 276,184 BTC in 339,000 wallets, while Kraken holds 126,510 Bitcoin among 672,000 addresses.

The next seven exchanges — Bitflyer, BIttrex, Bitfinex, Poloniex, Coincheck, Gate.io, and Bitstamp — hold a further 210,000 Bitcoins between them.

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