Binance holds the most amount of Bitcoin on exchanges after roles have reversed with Coinbase

Exchange balance refers to the amount of Bitcoin sitting on exchanges, and it was following a downtrend since January 2022 for both Coinbase and Binance when suddenly Binance’s exchange balance took a turn and started to spike in May. It’s still increasing, while both overall and Coinbase’s exchange balance continue to fall. The chart above shows the cumulative Bitcoin exchange balance, Bitcoin price, and the exchange balances of both exchange giants Binance and Coinbase.The green line representing the cumulative exchange balance has followed a sharp downtrend since February.