The largest US cryptocurrency exchange Coinbase is close to a new achievement. Soon, 1 million bitcoins will be located on the site’s wallets, which is equivalent to more than $ 8 billion. If the exchange succeeds and everything goes to this, the platform will be the first in the crypto industry with so many digital coins in its wallets.
At the beginning of the year, 970,000 BTC were located on Coinbase wallets; If the dynamics of the influx of bitcoins to the site continues, then on February 1, a value of 1 million BTC will be broken. Recall that in the entire history of cryptocurrencies, 18 million bitcoins were issued, and much less coins are in circulation, since a certain amount of BTC was forever lost due to various circumstances.
What could mean an increase in the number of bitcoins stored on wallets of the exchange? Obviously, users are more and more inclined to store their crypto assets on trading floors, despite a number of obvious disadvantages of this solution: hacking and blocking accounts. This trend may indicate the centralization of the cryptosphere.
Experts (for example, Marty Bent) say that coin holders themselves must already learn how to manage their assets.
Longhash researchers report that Coinbase boasts a solid user base – the exchange has more than 30 million customers. The platform is the largest in the industry in terms of controlled bitcoins. However, as experts note, the number of coins stored on exchanges is growing on other trading floors.
So, last year Binance made a real breakthrough in this regard. Bitfinex and Bittrex exchanges are also among the leaders.