<\/p>\n
According to recent data, the top four exchanges (Upbit, Binance, Bithumb, and Uphold) control the vast majority of the exchange-held supply.<\/p>\n
The combined market share of these four crypto giants stands at an enormous 80%. Together, they hold roughly 12.3 billion XRPs.\u00a0<\/p>\n
There is also a drop-off after fourth place. There is a 1.1 billion difference between Uphold and Bitbank.\u00a0<\/p>\n
The data shows that Upbit is the clear outlier. The South Korean exchange\u00a0 2.5x more XRP than the world\u2019s largest exchange, Binance. This is a known market phenomenon specific to XRP. In South Korea, XRP is exceptionally popular among retail investors.\u00a0<\/p>\n
This heavy accumulation is frequently linked to the Kimchi Premium.<\/p>\n
Binance is typically in first place for most assets, for XRP it sits firmly in second place. Its 21 wallets show a complex custody structure.\u00a0<\/p>\n
The presence of Bithumb in third place clearly shows the Korean dominance. Combined with Upbit, these two South Korean exchanges alone control over 52% of the XRP represented on this list.<\/p>\n
Uphold has historically positioned itself as an “XRP-friendly” exchange. It supported\u00a0 the asset during periods when other US exchanges delisted it due to SEC litigation. Hence, their high ranking is not even remotely surprising.\u00a0<\/p>\n
In fact, as reported by U.Today, XRP was the most traded cryptocurrency on the exchange.\u00a0<\/p>\n
In the meantime, the share of the XRP supply controlled by exchange-traded products currently stands at only 1%. The percentage might not seem impressive, but these products have had successful launches.\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
According to recent data, the top four exchanges (Upbit, Binance, Bithumb, and Uphold) control the vast majority of the exchange-held supply. The combined market share of these four crypto giants stands at an enormous 80%. Together, they hold roughly 12.3 billion XRPs.\u00a0 There is also a drop-off after fourth place. There is a 1.1 billion […]<\/p>\n","protected":false},"author":2,"featured_media":415669,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-415665","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/415665","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=415665"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/415665\/revisions"}],"predecessor-version":[{"id":415670,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/415665\/revisions\/415670"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/415669"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=415665"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=415665"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=415665"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}