The crypto economy is approaching $ 3 trillion in value for all 10,000+ cryptocurrencies. Today, the market capitalization of the entire cryptomarket ($ 2.7 trillion) is worth more than the market capitalization of Apple ($ 2.467 trillion). In addition, the 10 largest trading platforms hold more than $ 200 billion in cryptocurrencies held in reserves, 7.47% of the entire cryptocurrency economy.
10 centralized cryptoexchanges hold 7.47% of the value of the entire market
Digital currencies are much more valuable today than a month ago, and the market capitalization of the cryptomarket is approaching $ 3 trillion. The entire cryptoeconomy surpassed Apple’s total value last week, as Bitcoin became the sixth most valuable asset on Earth and Ethereum is now the 15th most valuable asset. While BTC has a market capitalization of $ 1.2 trillion, ETH has a market valuation of nearly $ 500 billion.
The top ten cryptocurrency trading platforms for cryptocurrencies hold in custody 7.47% of the entire cryptocurrency market. 10 largest cryptoexchanges with the highest cryptocurrency reserves are Coinbase, Binance, Huobi Global, Kraken, Okex, Gemini, Bitfinex, Bittrex, Bitmex and Bitflyer. All ten of these exchanges held assets worth approximately $ 206.263 billion on Thursday, October 21, 2021.
Coinbase controls 35% of the $ 206 billion held in the reserves of the 10 largest trading platforms
Of the incredible $ 206 billion held on centralized exchanges, Coinbase holds 35.84%, or $ 73.84 billion. Binance holds 14.78% of $ 206 billion with $ 30.46 billion. Both Bitmex and Bitflyer hold the smallest number of cryptocurrencies in the top ten positions, with Bitmex holding $ 7.27 billion and Bitflyer holding $ 4.89 billion in cryptocurrencies.
All ten of these exchanges together are worth more than the total market capitalization of Fortune 500 companies such as Comcast, Pfizer, Cisco, Coca-Cola and Intel. To be fair, cryptocurrency prices have been very volatile since early October, especially upwards.
Suffice it to say that BTC started the month under $ 44,000 and has since gained 47% in just twenty days and ETH started the month at around $ 3,000, so the current $ 4,200 is a 40% profit. However, it can be said that the 10 largest cryptoexchanges in terms of cryptocurrency reserves held in custody are becoming the largest giants in the world of finance due to the growing value of cryptocurrencies.