Will Clemente, a popular crypto analyst citing data from Glassnode, revealed that Binance has more Bitcoin (BTC) units than its rival Coinbase.
Flipping: Binance outperformed Coinbase by having the most BTC in the exchange pic.twitter.com/oNt4boKdBL
— Clemente (@ WClementeIII) July 18, 2022
The data show that Binance BTC holdings exceeded the 600,000 mark and Coinbase holdings fell below that level.
Coinbase has had the largest BTC holdings on any cryptocurrency exchange for some time, exceeding 800,000 units at a time. However, recently, as competition in space has begun to intensify, BTC holdings on exchanges have begun to decline.
Coin glass data As of July 18, Coinbase’s Bitcoin holdings were still up to over 600,000 units, while Binance’s holdings were over 500,000.
However, according to the data, Coinbase has recorded an outflow of 10,888 over the past seven days, and Binance has recorded an inflow of about 20,000 over the same period.
Sorry, this tweet is terribly inaccurate. Is there even a way to pretend to know how much BTC the exchange has?
— Nick de Bontin (@Ndebontin) July 18, 2022
Coinbase employee Nick de Bontin also said, “I’m probably looking at hot wallets and known tagged addresses” if “most of the exchange funds are refrigerated and at untagged addresses”, Glassnode data. I argued against.
It’s unclear if Glassnode described units with cold storage and untagged addresses.
Coinbase user panic
Reddit Coinbase users are panicking at the Exchange subReddit group Indicated Some users are facing “connection issues”.
Everything seems to work $ COIN pic.twitter.com/XBWgiE7SvV
— Markets & Mayhem (@ Mayhem4Markets) July 18, 2022
Posted by BigMan479 Asked The community, and the response when “Coinbase (was) wasn’t working,” faced the same issue with other members, even though they tried to use the exchange via the mobile application and the official website. I showed that.
..@Coinbase Stay tuned for the latest information on client withdrawal challenges on the platform.
— Lboj (@ LanreJoseph10) July 18, 2022
Another user who had a hard time withdrawing funds response From the Coinbase mod, the exchange says, “We are aware of this issue and are working to get everything back to normal as soon as possible.”
Most of the answers to these posts hinted that the problem was due to Coinbase’s “bankruptcy,” but others said they believed the exchange was working properly. rice field.
17:11 UTC View current Coinbase operational status Indicated There was a day without incidents on the exchange.
