Coinbase Exits Top 10 XRP-Holding Exchanges, Bill Morgan Quips On Delisting
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Coinbase’s XRP reserves continue to shrink. According to XRP Liquidity, Coinbase has now fallen out of the top 10 exchanges by XRP holdings, after its reserves dropped by a staggering 83% in just two months.
Coinbase’s XRP Reserves Plunge 83%Two months ago, Coinbase was the fifth-largest XRP holder among exchanges, with 780 million XRP. As of yesterday, that number has fallen to just 132.4 million XRP, surprising many in the XRP community.
Top 10 Exchanges XRP holdings
1. Upbit 5.871B
2. Binance 2.822B
3. Uphold 1.739B
4. Bithumb 1.655M
5. Bitbank 575M
6. Coincheck 555.4M
7. Etoro 472.3M
8. Cryptocom 378.7M
9. Coinone 295.18M
10. Kraken 185.13M
Dropped from Top 10
Coinbase 132.4M SBI VC 61.7M https://t.co/gfMYwntrL4
Currently, the largest XRP holders among exchanges are:
- Upbit: 5.87 billion
- Binance: 2.82 billion
- Uphold: 1.74 billion
- Bithumb: 1.66 billion
- Bitbank: 575 million
Other exchanges holding significant amounts include Coincheck with 555 million, eToro with 472 million, Crypto.com with 380 million, Coinone with 295 million, and Kraken with 185 million.
Coinbase’s XRP reserves may be declining for a few reasons. XRP is being shifted into liquidity programs, investment products, and trust accounts, which makes less of it visible on the exchange. XRP may be moving from Coinbase’s wallets to institutions, who manage and hold it themselves. Also, Coinbase may have cut back on XRP holdings when the token reached its all-time high.
Bill Morgan Jokes About CoinbaseIn response to Coinbase dropping out of the top 10 XRP holders, Attorney Bill Morgan quipped that the exchange might delist XRP again, but this time “by not holding any.”
Maybe it will delist XRP again, this time by not holding any. 