Crypto research firm CoinMetrics pointed out that the share of the two giant crypto exchanges in the market and the amount of Bitcoin it has continuously decreased in the network’s state report published weekly.
BitMEX and Bitfinex Enter The Hazardous Area
Especially the BitMEX crypto exchange, which failed to serve investors and failed in the sharp decline on March 12, and the decrease and losses experienced by Bitfinex, whose share and impact in the futures markets gradually decreased, seem to be part of other crypto exchanges.
Looking at the above report, it is seen that the amount of BTC in BitMEX cited in green and Bitfinex crypto exchanges in blue is falling very hard. While the BTC amount of many of the other exchanges is similar, it is observed that there is a slight increase in the BTC amount of Binance, which is shown in yellow.
The BTC amount of the Bitfinex cryptocurrency exchange fell to 93,800, indicating a 51% drop from March 13. Interestingly, it is seen that the amount of Ethereum in the stock market increased to 5 million and achieved a significant increase.
The BTC amount of BitMEX cryptocurrency exchange has decreased from 315,700 to 216,000 and decreased by 31%. It is seen that the majority of BitMEX’s BTC amount and users are going to OKEx, Huobi and Binance crypto exchanges.