Arkham Identifies Coinbase’s $25B in BTC; Rivals Nakamoto’s Legacy Coins

On September 22, 2023, Arkham Intelligence unveiled that it has recognized addresses tied to a staggering $25 billion from Coinbase’s bitcoin (BTC) holdings. This cache represents essentially the most substantial BTC reserve on Arkham. The agency factors out that this trove is almost on par with Satoshi Nakamoto’s legendary 1 million cash.

Coinbase’s Crypto Cache Tops $29B

On Friday, Arkham Intelligence, a crypto analytics and knowledge monitoring agency, revealed that its platform now prominently shows Coinbase’s bitcoin (BTC) reserves. Taking to social media platform X, the agency announced, “Arkham has now recognized $25B of Coinbase bitcoin reserves (1M [bitcoin]) on chain.” Arkham added:

This makes Coinbase the biggest bitcoin entity on this planet on Arkham, with nearly 5% of all [bitcoin] in existence – about as a lot as Satoshi Nakamoto.

Data from Friday exhibits Coinbase’s coffers holding a formidable 948,383 BTC, which, in the intervening time, boasts a price of $25.16 billion. But that’s not all. Arkham’s checklist showcases different property below Coinbase’s belt, pushing the corporate’s cumulative price on Arkham to $29.09 billion. Diving deeper, Coinbase’s addresses include roughly 1.686 million ethereum (ETH), translating to an estimated $2.68 billion. Additionally, they possess 68.591 million chainlink (LINK), with an approximate worth of $473.96 million.

The crypto agency additionally holds about 222.832 million USDC and property price $193.93 million, or 921,875 BNB. The San Francisco-based crypto market can be the custodian of 854.137 million GRT, valued at round $74 million, and a notable 12.1 million UNI tokens, estimated to be price about $51.1 million. While Coinbase boasts property across the $29.09 billion mark, as highlighted by Arkham’s explorer, Binance dwarfs this with a staggering $64.83 billion in crypto holdings.

Stacked towards Coinbase, Binance’s BTC reserve sits at a extra modest 658,256 BTC, valued at an estimated $17.50 billion. Interestingly, Binance’s most dominant asset is tether (USDT), with Arkham indicating that the trade possesses a major 21.18 billion USDT. When it involves ethereum (ETH), Binance outshines Coinbase, sustaining a exceptional 4.086 million ETH, which carries a price of $6.52 billion. Notably, Arkham has been in overdrive just lately, pinpointing and flagging crypto assets tied to trade giants resembling Grayscale and Robinhood.

What do you consider Arkham figuring out Coinbase’s stash of bitcoin reserves? Share your ideas and opinions about this topic within the feedback part beneath.