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Crypto Exchanges Continue to Increase Their Bitcoin Holdings Despite Price Volatility: TokenAnalyst Study

  • Alex Dovbnya
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    Cryptocurrency exchanges appear to be the most disciplined Bitcoin holders as their stockpiles continue to mount

Crypto Exchanges Continue to Increase Their Bitcoin Holdings Despite Price Volatility: TokenAnalyst Study
Cover image via news.u.today

According to a study conducted by cryptocurrency research firm TokenAnalyst, the amount of Bitcoin held by the biggest cryptocurrency exchanges has been steadily growing for the past two years.

As of now, the top exchange wallets are responsible for holding 6.7 percent of all BTC in circulation (about $9.8 bln at current prices).  

The specified time period includes the 2018 bear market that ended with Bitcoin bottoming out at $3,100 last December (a world of difference compared to Bitcoin's all-time high of $20,000 that was recorded the year prior). The top exchanges kept stacking stats despite these wild price swings

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According to data provided by BitInfoCharts, the four biggest exchange wallets are owned by cryptocurrency exchanges. Binance and Huobi are in the nine-digit territory with both them having more than $1 bln in their coffers.  

  
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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency

  •  Denis Sinyavskiy
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    Former US Congressman Ron Paul shares his thoughts on the possible creation of Fed’s own cryptocurrency

Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency
Cover image via www.123rf.com

Former US Congressman Ron Paul spoke on Fox Business and said that the Fed should not think about creating its own cryptocurrency.

Fed’s Crypto: To Be or Not To Be?

Rumors have been circulating for the past few months about the Fed possibly creating own cryptocurrency. It is expected that a digital coin would become a competitor to its counterparts on the market, and may even replace fiat money. President Patrick Harker, President of the Federal Reserve Bank of Philadelphia, commented on such rumors at a recent conference:

“It is inevitable. I think it is better for us to start getting our hands around it.”

However, there has not been no official follow-up by the Fed towards a crypto exchange. While proponents of this idea believe such innovation is necessary, it is expected that the exchange could stop the current delays involving US bank transfers.

What do the opponents think about the Fed's own cryptocurrency?

The idea of ​​creating the Fed's cryptocurrency has its opponents. This includes Ron Paul, who believes that the Fed is in a better position to stay away from digital coins and allow the private blockchain sector and payment platforms to resolve this discussion in real-time. What the Fed plans to do next is unclear, but the central bank may still enter the game.

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About the author

Starting with a simple interest in cryptocurrency, over the past two years, Denis has worked in a cryptocurrency fund and become an author with an analytical bias. His engineering degree helps with the analysis of the technical part of the cryptocurrency market. As a fan of cryptocurrency, Denis believes that the blockchain technology is the future.

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