The post Binance, Gemini Boost Bitcoin Reserves Amid CEX Declines appeared on BitcoinEthereumNews.com.

Year-to-date data from CryptoRank.io reveals contrasting trends in Bitcoin reserves across major exchanges. This year has seen different trends in Bitcoin holdings across major exchanges. Binance and Gemini have increased their Bitcoin reserves, standing out as exceptions during a time when most centralized exchanges (CEXs) are experiencing declining reserves. Typically, reserves drop when Bitcoin prices rise and market activity grows, as traders move coins off exchanges. In contrast, Kraken and Bybit have seen significant reductions in their Bitcoin holdings. These changes highlight varying strategies and market responses among exchanges as they adapt to shifts in Bitcoin’s price and trading activity throughout the year. Source: https://coinpedia.org/crypto-live-news/binance-gemini-boost-bitcoin-reserves-amid-cex-declines/

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Filed under: News - @ November 30, 2024 5:10 am