Recent data shows that the top four exchanges (Upbit, Binance, Bithumb, and Uphold) control the majority of the supply held by exchanges.
The combined market share of these four crypto giants amounts to a whopping 80%. In total, they hold approximately 12.3 billion XRP.
There is also a drop in rankings after 4th place. There is a difference of 1.1 billion between Uphold and Bitbank.
Korea’s advantage
The data shows that Upbit is a clear outlier. South Korea’s exchange rate is 2.5 times XRP than the world’s largest exchange Binance. This is a well-known phenomenon in certain markets. XRP. In Korea, XRP Very popular among individual investors.
This large accumulation is often associated with kimchi premium.
Binance is usually listed first for most assets. XRP Sitting firmly in second place. Its 21 wallets exhibit a complex storage structure.
The presence of Bithumb in 3rd place clearly shows South Korea’s superiority. Together with Upbit, these two Korean exchanges alone control over 52% of the exchanges. XRP listed on this list.
XRP-Friendly exchange
Uphold has historically positioned itself as “.XRPOther US exchanges supported the asset during a period when it was delisted due to SEC litigation. Therefore, its high ranking is not at all surprising.
In fact, as reported by U.Today, XRP It was the most traded cryptocurrency on the exchange.
XRP ETF share
Meanwhile, the share was XRP Currently, only 1% of supply is controlled by products traded on exchanges. While this percentage may not be surprising, these products have been successfully launched.