First time in history, Binance has surpassed Coinbase to become the exchange with the most Bitcoin reserves globally.

According to a market analysis conducted by CryptoQuant yesterday, November 21, 2022, Binance, a pioneer in the blockchain ecosystem and a leading exchange for digital assets, has earned the distinction of holding the biggest BTC holder in the world.

According to the famous crypto expert, Binance has formally overtaken Coinbase as the hugest BTC holding platform. 

The rise of BTC reserves in Binance

Binance continues to accomplish more impressive feats despite the crypto crisis that followed the FTX catastrophe, which agitated the entire cryptocurrency sphere.

Binance Exchange came in first place among the top five Bitcoin holders, according to CryptoQuant, with a total keeping of about five hundred thousand tokens.

With 533,048 BTC, the global cryptocurrency exchange service is in second place, and the cryptocurrency trading service Bitfinex is in the 3rd place now. Gemini comes in fourth.

Binance’s reserve took a significant hit after FTX collapsed, but lately, the trader has got a huge sum of depositions, increasing its backlog and elevating it to the top spot.

The total quantity of BTC presently held in accounts of a crypto trading platform is measured by the exchange reserve, a specially designed indicator.

Stakeholders, who store their tokens in the trader’s wallets, are accumulated together and can influence the metrics – the more there are such users, the more the value increases. However, a decline indicates that holders may currently be withdrawing their Bitcoins from that trading platform.

Market statistics and graphs show that most or all of the major investors’ Bitcoin exchange reserves have been dropping precipitously recently. 

The recovery from the crisis

Following the bankruptcy of the exchange, investors have become leery of the centered service and have made sizable withdrawals to keep their coins in wallets for which they hold the keys. Although, its reserve acquired big amounts of money from their wallets during the time of fluctuation.

Binance demonstrated an exceptional trend in contrast to the other exchanges. The exchange’s Bitcoin reserve recently experienced a sharp increase that exceeded previous levels and made up for the previous fall.