Crypto exchange Binance becomes the largest holder of bitcoin in the world

Cryptocurrency exchange Binance has become the largest bitcoin holder in the world, overtaking Coinbase, according to Glassnode analysts.

As it became known, on July 18, the number of BTC held by Binance became the largest compared to other bitcoin holders and Coinbase, which until recently was on par with Binance. According to analysts, at a time when many crypto companies are temporarily suspending their operations, limiting the ability to conduct transactions or even declaring bankruptcy, Binance continues to hold leading positions, operating as usual. Thus, the Binance Coin (BNB) token ranks 5th in terms of market capitalization, and the Binance USD (BUSD) stablecoin ranks 6th.

It is worth noting that the Coinbase crypto exchange is 5 years older than Binance, however, greater market experience has not «protected» Coinbase from crypto plagues and other problems. Recently, it became known that Coinbase left the list of the top 10 digital asset exchanges in terms of trading volume, moving to 14th place. And the exchange’s own marketplace for the sale and purchase of non-fungible tokens, Coinbase NFT, failed in all respects — the average daily trading volume on Coinbase is 2000 times lower than that of its main competitor OpenSea.