Crypto Exchanges' Wallets Balances to Dimish

On average, users have withdraw about 6% in last 3 months
10 January 2019   650

At the moment, 716 thousand BTC (4.1% of total emission), 7 million ETH (6.8%) and 1.2 billion USDT (63.5%) are stored in public wallets of cryptocurrency trading platforms. At the same time, the addresses of the wallets of such large exchanges as Coinbase and BitMEX remain unknown, The Block reports.

Coinbase representatives reported that in December, the platform moved 5% of the total Bitcoin emissions and 8% of all Ethereum coins to the updated vault. However, it has not yet been possible to obtain independent confirmation of this information.

At the same time, some data indicate that BitMEX has about 1% of all bitcoins on their wallets. Thus, at least 10% of the total BTC emission is on the balance of the trading floors.

In the past three months, Bitcoin exchange balances began to decline. On average, users have withdraw about 6%. With this, the largest number of coins left Bitfinex, Kraken and Poloniex wallets, but Huobi, on the contrary, increased its balance sheets.

BTC Balances of Exchanges (last 3 months)
BTC Balances of Exchanges (last 3 months)

A similar situation exists with Ethereum. Gemini, OKEx and Gate.io wallets have lost the largest number of coins, while Bittrex and Kraken have improved the situation. On average, the ETH-balances of trading floors decreased by a little more than 6%.

ETH Balances of Exchanges (last 3 months)
ETH Balances of Exchanges (last 3 months)

Note that the USDT balances of the exchange also decreased significantly. In October, Tether Limited destroyed 500 million tokens, and the new stablecoins [USDC, Paxos and Gemini dollar] strengthened.

USDT Balances of Exchanges (last 3 months)
USDT Balances of Exchanges (last 3 months)

The Block analysts note that this trend may indicate a decline in speculative movements or the desire of users to withdraw assets to personal wallets.

The total value of Bitcoins, Ethereum and Tether on the purses of the Binance Exchange is about $ 1.5 billion, which puts it in the first place among the platforms with public addresses. Followed by Huobi, Bitfinex, Bittrex and Kraken.

Earlier in the Bitcoin network Proof Of Keys took place the, in which users checked the solvency of the exchanges by large-scale transfer of assets to personal wallets. As a result, problems in the were found on Bitfinex, Poloniex and Coinbase Pro.

Bitfinex to Unveil Tokinex IEO Platform

Information on first campaign will be available this Thursday, May 23rd
21 May 2019   113

Bitfinex cryptocurrency exchange announced the launch of an IEO platform called Tokinex.

The Bitfinex blog reports that information on the first IEO on the new platform will appear already this Thursday, May 23rd. The very same initial exchange offer will take place on June 13.

What it means to be an exchange has evolved to become an entire ecosystem, not just limited to the remit of trading digital assets. We are proud to finally launch Tokinex and bring the opportunity for participation in quality token sales in a fair environment.
 

Bitfinex Team

To participate in IEO on Tokinex, users of the exchange will have to undergo KYC identification using the Blockpass mobile app. After that, investors will be able to transfer funds from the exchange to the account for the purchase of new coins on the eve of the tokensale.

According to The Block, Bitfinex plans to hold approximately two IEOs per month. In the commentary on the publication's tweet, the representatives of the exchange specified that the new platform would not charge for listing.

Earlier, Bitfinex managed to attract $ 1 billion in private IEO. The LEO token started trading yesterday, May 20.