Coinbase is the first in the industry

Coinbase is the first in the industry to collect 1 million bitcoins on its wallets

American cryptocurrency exchange Coinbase can soon collect 1 million BTC on its wallets, becoming the first of its kind in this indicator.

According to the Longhash portal, as of January 1, Coinbase had 970,000 BTC, or more than $ 8 billion at the current exchange rate. If the current dynamics are maintained, it can reach a value of 1 million BTC by February. Since the creation of bitcoin, a little more than 18 million BTC have been issued on the network of the first cryptocurrency.

The observed trend reflects the increasing tendency of bitcoin holders to trust their assets to third-party custodians, which inevitably leads to their centralization..

“Individual and corporate users need to learn how to store their own assets,” said Tales from the Crypt podcast author Marty Bent in comments to the study..

Coinbase is the first in the industry to collect 1 million bitcoins on its wallets The American cryptocurrency exchange Coinbase may soon collect 1 million BTC on its wallets, becoming the first of its kind in this indicator.

Longhash notes that Coinbase has registered over 30 million users since its inception and has become the largest in terms of volume of controlled bitcoins. However, the rate is growing on other platforms as well..

For most of the past year, Binance has taken the lead in this regard. Bitfinex started the year in third place, but lost a significant portion of its assets in the first quarter and was able to recover only towards the end of the year. Bittrex, Bitstamp and Kraken, which ranked fourth, sixth and seventh at the beginning of the year, respectively, are showing relative stability..

The most interesting, however, is the Huobi exchange, which jumped from fifth to second in 2019. Analysts have said in the past that Huobi wallets were used to withdraw assets of the large PlusToken scam, which may explain the sudden rise..

Previously, there was an increase in the number of addresses containing 1 BTC or more, which, according to some, may indicate the interest of retail investors.

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