Since the crash of the formerly huge crypto exchange FTX, the question is whether your favorite exchange is financially stable. Sometimes this is difficult to estimate, but luckily CoinMarketCap comes to the rescue. With a new tool you can check what certain exchanges have in house in terms of coins.
View in real-time crypto exchange reserves
It has been visible for some time which coins trading platforms offer, but you could not yet see exactly how many coins an exchange owns. CoinMarketCap changes that with a new feature. On the exchange rankings, there is a three-disk logo with a check mark next to the exchange name. That indicates that on the page of the individual exchange you can see exactly how many tokens an exchange has of any asset.
For example, you can see that the offer from Binance’s international branch at the time of writing, 33.6% is BUSD stablecoin. USDT follows with a rate of 23.9%, and bitcoin (BTC) with 12.9%. Last summer, KuCoin was rumored to be facing bankruptcy, but this was quickly denied by the CEO. If we look at it offer from KuCoin, we see that it consists of 32.2% USDT. 17.6% consists of KuCoin’s own KCS token.
At Bitfinex the situation is quite remarkable. Here, no stablecoin is the largest holding, but bitcoin with an allocation of no less than 43.1%. The next largest token is LEO, which represents 35% of the supply. Stablecoins are not even a fraction of the supply. The first stablecoin in the list is USDT, with only 0.5% of the total value.
Not for every exchange visible
Unfortunately, it is not available for every exchange. The crypto encyclopedia will have to work with exchanges to release data, and not every exchange is willing to do so for now or has had the time for this.
Also, the tool does not provide a complete picture. For example, it only concerns the assets that exchanges offer for sale. We don’t know anything about the exchanges’ debts or other assets they own.
OAt the time of writing this can be seen for Binance, KuCoin, Bitfinex, OKX, Bybit, Crypto.com. Some other parties have already announced that they will release the necessary figures, including Bitvavo, which is popular in the Netherlands and Belgium. It is therefore possible that many more parties will be added in the future.