BITCOIN EXCHANGE WALLETS
What Are the Exchanges Sitting On?
Exchanges hold coins for millions of people. This tracks how much they hold, what those coins were worth when they arrived, and how long they have been sitting there.
Bitcoin held by the exchange wallets we can trace
Only the exchange wallets we can identify from the chain ourselves. The market-wide total is larger, and step one above states it.
Latest displayed reading: 601,963 BTC on Aug 28, 2026. This view shows 4,657 dated readings from Nov 28, 2013 to Aug 28, 2026. The latest displayed reading is higher than the first. The displayed low is 0 BTC on Dec 3, 2013. The displayed high is 857,597 BTC on May 6, 2023. Every day in this range has a reading.
Pick two to four dates and read this chart's values side by side.
How much Bitcoin is sitting on exchanges?
2.82M BTCThat is 14.03% of every Bitcoin there is, held in exchange wallets and ready to sell the moment an owner decides to. It is the same reading the coins-on-exchanges page publishes, so the two never disagree.
Every exchange wallet on the market, not only the ones we can trace.
Which way did the coins move?
34,643 BTCarrived on exchangesCoins moving in usually come before selling.33,654 BTCleft exchangesCoins moving out usually mean someone decided to hold.989 BTCmore arrived than leftA day that leans toward selling.How much of that can we follow ourselves?
602.0K BTC of it, about 21%We work out who owns an address by catching two addresses spending from one transaction. A wallet that only ever receives coins never gives that away, and an exchange keeps most of its Bitcoin in an offline vault that receives and then sits still for years. So the part we cannot follow is mostly the part that never moves, and everything below is measured on the part that does.
Exchange coins we can trace to an owner21.4%The rest sits in wallets that only ever receive, which never show us who owns them.What were those coins worth when they arrived?
$55,294average price when they landedWhat a Bitcoin was worth on the day it arrived, averaged over the traced pile.85.5%arrived below today's priceThe share of traced coins that would be worth more now than when they landed.3.1 yearsthe average stay so farHow long the traced coins have been sitting where they are.How many exchanges actually moved anything?
18 of 61We can separate 61 distinct exchange owners in the traced set, and 18 of them moved coins on this day. Between them they took in 3,925 BTC and released 3,396 BTC, so 529 BTC more arrived than left.
An owner here is a group of wallets the chain shows under one hand. It does not say which company that is.
Why is there no page for each exchange yet?
Because we will not borrow someone else's labelsSplitting this into a page per exchange means saying which company owns which wallets. That claim is easy to buy from someone else and impossible to check, and buying it would mean inheriting both their licence and their mistakes on a page carrying our name. The grouping above is ours, worked out from the chain. The naming has to be ours too before a venue gets a page of its own.
Understanding Bitcoin Exchange Wallets
Where it stands today
Exchanges hold 2,817,431 BTC, which is 14.03% of all Bitcoin as of .
The 601,963 BTC we can trace arrived at an average of $55,294 a coin as of .
An exchange is where most people buy and sell Bitcoin, and while your coins sit there the exchange holds them in wallets of its own. Watching those wallets is one of the oldest reads in the market. Coins arriving usually means someone is getting ready to sell, and coins leaving usually means someone has decided to hold on to them instead.
This page counts two different things and keeps them apart on purpose. The market total is every coin sitting on an exchange, and it is the same reading the exchange flows page publishes, so the two pages can never give you different answers. The traced total is the smaller set of exchange wallets we can pick out of the chain ourselves, by watching which addresses spend together.
Those two numbers differ by about five times, and the gap is coverage rather than disagreement. We learn that two addresses belong to the same owner by catching them spending from one transaction. A wallet that only ever receives coins never proves anything about who owns it, so it stays invisible to us. Exchanges keep most of their Bitcoin in an offline vault that receives coins and then sits still for years, which means the part we cannot see is mostly the part that never moves.
What the traced set buys is a set of questions the market total cannot answer. Because we can see the day each of those coins landed, we can say what it was worth when it arrived, whether it is worth more now, and how long it has sat. Every one of those is an average over about a fifth of the pile, and this page says so each time it prints one.