In terms of the total value of all 10,000+ crypto assets, the crypto economy is dangerously close to crossing the $3 trillion mark. Today, crypto market aggregation sites show that the entire crypto-economy is worth $2.756 trillion, which is more than Apple’s market cap of $2.467. Furthermore, in terms of cryptocurrencies held in reserves, the top ten crypto-asset exchanges hold more than $200 billion, or 7.47 percent of the entire crypto economy.
Ten centralized cryptocurrency exchanges hold 7.47 percent of the cryptocurrency economy’s value in custody.
Today, digital currencies are far more valuable than they were a month ago, and the crypto economy is on the verge of exceeding $3 trillion in value. This week, the crypto-economy as a whole surpassed Apple’s total worth, with bitcoin (BTC) becoming the sixth-most valuable asset on the planet and ethereum (ETH) becoming the 15th-largest global asset. While BTC has a market cap of $1.2 trillion, ETH has a market cap of more than $500 billion.
Meanwhile, in terms of cryptocurrencies held in reserves, the top ten crypto asset trading platforms control 7.47 percent of the entire crypto-economy. Coinbase, Binance, Huobi Global, Kraken, Okex, Gemini, Bitfinex, Bittrex, Bitmex, and Bitflyer are the top ten crypto asset exchanges in terms of value in custody. Using today’s exchange rates, all ten of these exchanges will hold approximately $206.263 billion on Thursday, October 21, 2021.
Coinbase controls 35% of the $206 billion in reserves held by the top ten trading platforms.
Bituniverse provided the “Exchange Transparent Balance Rank” data on Thursday, with assistance from Peckshield, Etherscan, and Chain.info. Coinbase controls 35.84 percent of the total $206 billion held on centralized exchanges, with $73.84 billion in reserves. Binance, with $30.46 billion, owns 14.78 percent of the $206 billion. Bitmex and Bitflyer both have the fewest crypto reserves among the top ten, with Bitmex holding $7.27 billion and Bitflyer holding $4.89 billion.
The combined value of these ten exchanges is greater than the total market capitalization of Fortune 500 companies such as Comcast, Pfizer, Cisco, Coca-Cola, and Intel. Because of the growing value of the crypto economy, it’s safe to say that the top ten crypto exchanges in terms of crypto reserves held in custody are becoming heavyweight behemoths in the world of finance.