Nearly $10 Billion in BTC Is Held in Wallets of 8 Crypto Exchanges
Cointelegraph By Joeri Cant's original article for cointelegraph.com reduced by 52%
6.7% of the entire circulating supply of Bitcoin is held on the wallets of eight major cryptocurrency exchanges, according to Twitter account The Token Analyst. On Oct. 8, the Token Analyst, a Twitter account that provides real-time and historical blockchain data, wrote that throughout Bitcoin's history, the amount of the world's most popular crypto coins on exchange wallets has consistently been increasing.
According to the Token Analyst, 6.7% of the entire Bitcoin supply - close to 1.2 million coins - is currently held in the wallets of eight major exchanges, leading the account to dub exchanges "The biggest HODLers." The blockchain-data account shows in its attached infogram, that major cryptocurrency exchange operator Huobi Group is leading the pack of crypto exchanges, with the most amount of BTC in its wallets. One of the best-known words in the crypto vernacular is having a birthday party on December 18. The word HODL was coined on BitcoinTalk almost 6 years ago, when Bitcoin started crashing after touching $1,000.
Bitcointalk member GameKyuubi gets the credit for coining the word HODL, a word that has been universally understood as a recommendation for not selling digital assets in times of FUD. He misspelled the word 'hold', during a posted rant opposed to selling.
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