“Binance has surpassed Coinbase and holds many BTC than any other exchange.”
The data show that the amount BTC held by Binance has crossed the 600,000 mark while that of Coinbase has dipped below it.
Coinbase was the exchange with the largest BTC holdings for a while, at one point over 800,000. However, exchange holdings started to decline as competition in the space started to heat up in recent times.
At the present time, data from Coinglass shows that Coinbase still has the amount of Bitcoin holds the highest with 616,977 units while Binance has 504,698.
However, the data shows that Coinbase recorded an outflow of 10,888 BTC while Binance recorded an inflow of nearly 20,000 BTC over the past seven days.
“Sorry but this tweet is completely inaccurate. How does one even pretend to know how many BTC an exchange has?”.
A Coinbase employee, Nick de Bontin, also refuted his data Glassnode says that it is “probably looking into hot wallets and known tagged addresses” as “the majority of BTC is in cold wallets and untagged addresses.”
Not sure whether Glassnode accounting for BTC in cold wallets and unlabelled addresses.
Coinbase Users Face Connection Issues
Coinbase users on Reddit are panicking as some users are facing “connection problems”.
“Everything seems fine with COIN.”
A post from BigMan479 was ask community if “Coinbase (was) not working” and the responses indicate that some other members are having the same problem despite trying to use the exchange through the mobile app and website its official.
Another user who had difficulty withdrawing his funds received a response from a Coinbase mod that the exchange “is aware of the issue and is working to get things back to normal as soon as possible.” ".
The majority of responses to these posts hinted that the problem was Coinbase's "default," while others said they believed the exchange was doing well.
A look at Coinbase's operating status for 24 hours shows that the problem does not exist.