In a recent revelation, on-chain data has brought to light the substantial crypto reserves held by major exchanges, Binance, Bitfinex, and OKX. Tens of billions of dollars in digital assets are currently stashed within their reserves, with Binance leading the pack at $66.91 billion. However, these revelations come at a time when Binance is grappling with regulatory challenges, including a hefty $4.3 billion fine for anti-money laundering protocol violations. Binance's Staggering Holdings: Binance, one of the world's largest crypto exchanges, boasts an impressive $66.91 billion in crypto assets. A breakdown reveals significant holdings in Bitcoin (BTC) at $20.578 billion, stablecoin USDT at $18.84 billion, and Wrapped Ethereum (wETH/ETH) at $8.085 billion. OKX and Bitfinex Reserves: While Binance leads the pack, OKX and Bitfinex also command substantial crypto reserves. OKX holds $12.41 billion in assets, with notable amounts in USDT, BTC, and wETH. Bitfinex, on the other hand, maintains reserves totaling $11.74 billion, including major holdings in BTC, LEO, and wETH. The Composition of Crypto Reserves: The majority of the virtual currencies held by these exchanges include prominent tokens such as Bitcoin (BTC), Ethereum (ETH), Wrapped Ethereum (wETH), and the stablecoin USDT. These assets form the bedrock of the crypto market and contribute to the liquidity and trading volumes on these platforms. Binance's Regulatory Woes: Amidst these revelations, Binance is contending with heightened regulatory scrutiny. The exchange recently faced a staggering $4.3 billion fine for lapses in anti-money laundering protocols. In response to these challenges, Binance's CEO, Changpeng Zhao, pleaded guilty to the charges and stepped down from his position, signaling a shift in leadership. Resilience Amidst Regulatory Challenges: Despite the regulatory setbacks, Binance's new CEO, Richard Teng, asserts that the firm's fundamentals remain "very strong." This statement comes as a reassurance to the crypto community amidst concerns about the impact of regulatory actions on the exchange's operations. Market Response and Outflows: Data from market intelligence firm Nansen indicates that Binance experienced an outflow of $17 million worth of Ethereum and $956 million worth of Bitcoin around the time of the regulatory fine. However, paradoxically, Binance's total holdings slightly increased during that period, reflecting the complex dynamics of the crypto market. The revelation of massive crypto reserves within Binance, Bitfinex, and OKX sheds light on the robustness of these platforms, even in the face of regulatory challenges. As the crypto industry navigates the evolving regulatory landscape, the resilience of major exchanges underscores their role as key players in the digital asset ecosystem. #OKX #Bitfinex #RichardTeng #BTC #ETH

The top three CEXs by assets held are Binance, OKX, and Bitfinex. DefiLlama data shows that Binance holds $66.917 billion to rank top among CEXs by assets held. There was a negative inflow in digital assets on all the top 3 CEXs in the last 24 hours. Data from DefiLlama, a blockchain data aggregation platform, shows that the top three centralized exchanges (CEXs) by assets held are Binance, OKX, and Bitfinex. As posted by Lookonchain on X (formerly Twitter), the smartmoney on-chain platform, the total digital assets held by Binance amount to $66.917 billion. OKX holds $12.413 billion, while Bitfinex holds $11.746 billion to complete the top three CEXs in digital assets holding. According to #Defillama, #Binance holds $66.917b assets:$20.578b BTC$18.84b USDT$8.085b WETH/ETH…#OKX holds $12.413b assets:$5.2b USDT$4.827b BTC$1.95b WETH…#Bitfinex holds $11.746b assets:$7.69b BTC$2.596b LEO$0.77b WETH…https://t.co/Lrl0bTwxIF pic.twitter.com/OVKm2vG6Tf — Lookonchain (@lookonchain) November 30, 2023 Notably, Bitcoin dominated the volume of assets held in two of the three top CEXs, while Tether (USDT), the flagship stablecoin, topped the assets held on the other. The volume of Bitcoins held on the Binance exchange totaled $20.578 billion, representing 30.75% of the digital assets on the leading crypto exchange. As of the time of reporting, DefiLlama’s data showed that OKX held $4.827 billion in Bitcoins, reflecting 38.89% of the total assets held on the trading platform. Tether dominated the digital assets volume held on OKX with a volume of $5.2 billion and a market share of 41.89%. Bitcoin represents the dominant digital asset on Bitfinex by claiming 65.47% of all assets held on the crypto exchange. Bitcoins held on Bitfinex as of the time of writing amounted to $7.69 billion, while LEO, with a volume of $2.596 billion, representing a 22.1% market share, is the second-highest digital asset held on Bitfinex. It is important to note that data from DefiLlama showed a negative inflow in digital assets on all the top three crypto exchanges in the last 24 hours. According to information on the data aggregation platform, $327.85 million was withdrawn in digital assets from Binance 24 hours before this report. The volume on OKX dropped by $17.01 million, while Bitfinex users pulled out $42 million in digital assets from the trading platform. The post Binance, OKX, Bitfinex Are the Top 3 CEXs by Digital Assets Held appeared first on Coin Edition.

Although most weekends tend to go relatively quiet for the volatile cryptocurrency industry, this one saw a more impressive price surge for BTC and several assets. This resulted in tapping a new 19-month peak for the primary digital asset and millions of dollars liquidated, mostly for short positions. As CryptoPotato reported earlier today, BTC had soared to a multi-month peak at $39,000 on Friday evening for the first time in over a year and a half. The asset failed to continue its momentum and retraced by several hundred dollars. However, there was a looming feeling among the community that another leg up was in the making. This price pump indeed transpired on Saturday evening when bitcoin soared by over a grand in minutes and thus came just inches away from tapping $40,000 for the first time since May 2022. So far, though, the asset has been unable to breach that level and has dumped by around $700. BTCUSD. Source: TradingView Several altcoins also surged by notable percentages but have retraced just like BTC. Nevertheless, Chainlink is still over 7% up on the day and trades above $16. The other impressive gainers include RUNE (11%) and NEAR (6%). The second-largest cryptocurrency – Ethereum (ETH) – has added 3% of value and has jumped well above $2,100. This enhanced volatility has harmed over-leveraged traders as the total number of liquidations has soared to more than $100 million on a daily scale. Somewhat expectedly, the majority of wrecked traders had shorted the market. The single largest liquidated order was worth $2 million and took place on OKX. The post Over $100M in Liquidations as Bitcoin (BTC) Price Soars to $40K appeared first on CryptoPotato.

The BLUR cryptocurrency gained significant attention in the cryptocurrency community due to a surge in whale activity. BLUR, a cryptocurrency supported by Paradigm, has recently captured considerable attention in the cryptocurrency space. This surge in interest comes as large-scale whale activity was observed on November 27, with whales moving more than 7 million BLUR tokens to centralized exchanges such as Binance and OKX. The transfer of cryptocurrencies to exchanges suggests a potential increase in supply, leading to a decrease in demand for the cryptocurrency. In line with this movement, the BLUR price experienced a notable decline at the time of writing. Whale Transactions Impact BLUR Price: Insights from Spot on Chain Recent data from Spot on Chain, a blockchain tracking platform, reveals a notable impact on the BLUR price following significant whale transactions. A whale with the address 0x13d deposited 3.75 million BLUR to Binance and OKX at approximately $0.629, marking a cool-down in the BLUR price after the tokens were dumped to exchanges. The wallet had accumulated these holdings from OKX at $0.535 two days prior, suggesting an estimated profit of $353,000. In a separate transaction, another whale (wallet address 0x387) transferred 1.67 million BLUR to Binance at $0.629, having obtained these holdings from OKX at $0.375 five days earlier. This move indicated an estimated profit of $424,000. Notably, this wallet is linked to orz-allinornothing.eth. Additionally, Wintermute Trading, a prominent crypto market maker, deposited 1.75 million BLUR to OKX about 12 and 9 hours ago. The data indicates that the market maker has deposited a total of 4.25 million BLUR to both Binance and OKX over the past two days. These substantial coin transfers to exchanges align with the recent decline in the token’s value, raising speculations and discussions among crypto market enthusiasts. BLUR Price Takes a Hit After Whale Activity The BLUR price has experienced a significant decline of 12.12%, reaching $0.5274 at the time of writing. Despite this downturn, the token had previously demonstrated an impressive surge of 54.11% over the past week. Simultaneously, the twenty-four-hour trading volume saw a decrease of 12.80%, reaching $358.95 thousand at the time of writing. The observed drop in the token’s price aligns with recent large-scale coin transfers to exchanges, indicating an uptick in the total supply of the cryptocurrency. ⚠️Disclaimer This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader. #BLUR

The world’s largest cryptocurrency exchange, Binance, has experienced ailing on-chain activities since its $4.3 billion settlement with the United States Department of Justice (DOJ) less than two weeks ago. According to a report by market analytics platform CryptoQuant, Binance’s reserves have steadily declined as users continue to withdraw their assets. Binance Reserves Decline Binance’s reserves have witnessed a 20% drawdown from their all-time high, accounting for the exchange’s largest fall in the last five years. The trading platform’s bitcoin (BTC) reserves have plummeted to around 500,000 BTC from 634,000 BTC in May. BTC deposit transactions on Binance have also slumped to fresh lows as the exchange sees declining user interest in moving their assets to the platform. Binance’s bitcoin spot trading volume is not left out. Last week, the figure was lower than those of rival exchanges Coinbase and OKX for the first time since June 2020. The leading crypto exchange has been under regulatory pressure from several regions this year. Its pact with the DOJ on November 21 emerged as one of the largest crypto settlements in American history. The exchange pleaded guilty to willfully floundering the Bank Secrecy Act and failing to implement a robust anti-money laundering program on its platform. The settlement entailed Binance founder Changpeng Zhao (CZ) exiting the role of the company’s CEO and paying a fine of $50 million. The news of CZ’s resignation caused an uptick in the number of bitcoins flowing from Binance to other exchanges, leading to the platform’s market share briefly dropping to around 40%. Binance Maintains Its Dominance Despite the declines and mass exodus of assets, Binance has maintained its dominance with the highest BTC reserves and 30-day cumulative net flows. The trading platform has recovered its market share, which has returned to roughly 50%. Judging from the number of BTC moving from Binance to other exchanges over a longer time frame, the DOJ saga triggered a low amount of the asset to move from the leading platform to other trading venues. “Moreover, the 30-day cumulative net flows in or out of the exchange remain low relative to total reserves, further demonstrating the relatively low impact of recent news when viewed from a longer time frame. Binance still remains the dominant exchange with the highest amount of total Bitcoin reserves,” CryptoQuant stated. The post Details of Binance’s On-Chain Health After DOJ $4.3B Settlement: CryptoQuant appeared first on CryptoPotato.

Pepe Coin (PEPE) as of December 2, 2023, 17:25 +06: Overview Pepe Coin (PEPE) is an ERC-20 token that runs on the Ethereum blockchain. It is a memecoin that features the popular Pepe the Frog internet meme. PEPE was launched in May 2023 and quickly gained popularity, reaching a market cap of over $1 billion in just a few weeks. The coin has since experienced some volatility, but it remains one of the most popular memecoins on the market. Current Price and Trading Volume The current price of PEPE is $0.000001064 USD, with a 24-hour trading volume of $46.05 M. PEPE is -2.61% in the last 24 hours. Market Cap and Ranking Pepe Coin has a market cap of $45.71 M. It is ranked #101 on CoinMarketCap. Circulating Supply and Maximum Supply The circulating supply of PEPE is 417.48 T. The maximum supply of PEPE is 420.69 T. All-Time High and Low The all-time high price of PEPE is $0.00003464 USD, which was reached on May 6, 2023. The all-time low price of PEPE is $0.0000005896 USD, which was reached on November 25, 2023. Exchanges PEPE is traded on a number of cryptocurrency exchanges, including Binance, OKX, Bybit, CoinTR Pro, and DigiFinex. Future Outlook The future outlook for PEPE is uncertain. The coin is highly volatile and its price is largely driven by speculation. However, the coin has a strong community of supporters and it is possible that it could see further gains in the future. Disclaimer Please note that I am not a financial advisor and this information is not intended to be financial advice. You should always do your own research before investing in any cryptocurrency. #PepeCoinRise #BinanceTournament $PEPE

According to #Defillama, #Binance    holds $66.917b assets: $20.578b BTC $18.84b USDT $8.085b WETH/ETH ... #OKX holds $12.413b assets: $5.2b USDT $4.827b BTC $1.95b WETH ... #Bitfinex holds $11.746b assets: $7.69b BTC $2.596b LEO $0.77b WETH ... #BTC #etf

In a recent interview with Decrypt, Coinbase CEO Brian Armstrong confirmed the company’s decision not to issue a token for its layer-2 network, Base. Contrary to previous speculations and a statement by Coinbase Chief Legal Officer Paul Grewal, Armstrong emphasized that there are no plans to create a Base network token. This announcement is significant as it reflects Coinbase’s strategic approach towards its layer-2 network development and its interaction with the broader crypto ecosystem. Base, which launched in August, has shown remarkable growth, becoming the third-largest layer-2 network in terms of total value locked (TVL), boasting around $500 million in TVL and a million interacting wallets since its inception. Layer-2 networks, built atop existing blockchain systems like Ethereum (ETH), offer faster and cheaper transaction capabilities, addressing scalability issues inherent in base layer networks. The rapid ascension of Base in this competitive landscape is noteworthy and highlights its potential impact on the cryptocurrency market. You might also like: Layer-2 transactions accounted for over 60% of all Ethereum activity in Q3 Armstrong’s vision for Base extends beyond Coinbase’s proprietary interests. He envisions Base as a community-driven project, interoperable with the wider crypto ecosystem. Base’s foundation on the Optimism (OP) stack on Ethereum is a strategic move to ensure this broad compatibility and community engagement. This approach, coupled with Coinbase’s backing, aims to establish trust and stability in the network. Moreover, Armstrong has set ambitious performance targets for Coinbase transactions, aiming for an “under one second and one cent” average transaction time. Achieving these objectives will necessitate substantial improvements to Base and broader integration of layer-2 solutions across Coinbase’s platform. Armstrong elaborates, “That’s not just with Base,” adding, “That’s things like integrating the Lightning Network on Bitcoin, it’s integrating other layer-1s that are very fast, like Solana.” He notes that currently, about 7% of transactions through Coinbase use layer-2, with internal goals set to “get that number way up” as part of a “multi-year effort.” Armstrong acknowledges the burgeoning interest from other exchanges in developing their layer-2 solutions, like Kraken and OKX, but cautions against a fragmented landscape where each application operates its own layer-2 network. He advocates for consolidation around a few layer-2 networks to optimize efficiency and interoperability in the crypto space. Read more: Chainlink CCIP deploys on Base, an Ethereum layer-2