In the fast-paced world of cryptocurrencies, asset distribution on major centralized exchanges (CEX) like Binance, OKX, and Bitfinex plays a crucial role in understanding market trends.
According to recent data from DefiLlama, these exchanges have maintained a prominent position in terms of asset volume, revealing the preeminence of certain cryptocurrencies in their portfolios.
Binance, one of the giants of the crypto ecosystem, leads the pack with a staggering total of $66.917 billion in digital assets.
According to #Defillama, #Binance holds $66.917b assets:
$20.578b BTC
$18.84b USDT
$8.085b WETH/ETH
…#OKX holds $12.413b assets:
$5.2b USDT
$4.827b BTC
$1.95b WETH
…#Bitfinex holds $11.746b assets:
$7.69b BTC
$2.596b LEO
$0.77b WETH
…https://t.co/Lrl0bTwxIF pic.twitter.com/OVKm2vG6Tf— Lookonchain (@lookonchain) November 30, 2023
In its overwhelming portfolio, Bitcoin (BTC) rises as the main cryptocurrency, occupying a considerable part with $20.578 billion, representing 30.75% of the total assets on the platform.
Furthermore, Tether (USDT) is positioned strongly on Binance with $18.84 billion, demonstrating the relevance of stablecoins in this ecosystem.
In second position is OKX, with $12.413 billion in digital assets. While Bitcoin remains a dominant force here at $4.827 billion, it is notable that Tether (USDT) gains even greater importance on this platform, marking $5.2 billion, representing 41.89% of total assets.
Bitfinex, in third position, holds $11.746 billion in assets, with Bitcoin leading its portfolio with $7.69 billion. Furthermore, the LEO cryptocurrency occupies a significant position with $2.596 billion, representing 22.1% of the total assets on the platform.
Bitcoin’s dominance in exchanges is undeniable
Although closely followed by Tether (USDT) and Ethereum (WETH/ETH) in different proportions, Bitcoin stands out on all CEX platforms as the favorite.
However, it is interesting to note that the last 24 hours have witnessed a trend of asset withdrawals on these CEXs.
Binance leads with an outflow of $327.85 million, followed by Bitfinex with $42 million and OKX with $17.01 million.
These movements can indicate a variety of reasons, from concerns about the safety of funds to changes in trading strategies.
If anything, they underscore the need to closely monitor these trends and their potential implications on the ever-evolving cryptocurrency market.
