BITCOIN EXCHANGE RESERVES AND NET FLOWS
Are Coins Moving Onto Exchanges or Off Them?
Exchanges hold coins for millions of people. This tracks how much they hold, which way it moved, 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: 606,149 BTC on Sep 5, 2026. This view shows 4,665 dated readings from Nov 28, 2013 to Sep 5, 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?
1.62M BTCThat is 8.08% of every Bitcoin there is, sitting on the exchange addresses we have identified ourselves. We count the coins on those addresses directly, with no guessing about which other wallets belong to the same exchange, so this is a floor rather than a ceiling: an address we have not identified is not in it.
Measured on the exchange addresses we know, not on every exchange wallet on the market.
Why are there two different totals on this page?
606.1K BTC in the wallet groups we can traceThe number above counts the coins on exchange addresses we know, directly. This one counts the coins in whole wallet groups our tracing can attach to an exchange, which we work out 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 exactly that kind of wallet, so the traced set is the smaller one. Neither contains the other: a traced group also holds addresses we have not identified. Every average below is measured on the traced set, because that is the one whose coins we can date.
How much Bitcoin does each exchange hold?
Exchange On addresses we know Coins we can trace Past month Share of traced Wallet groups Binance 618,813 BTC 479,181 BTC 33,785 BTC arrived 79.1% 3 OKX 88,056 BTC none we can see barely moved 0% 0 Bybit 40,699 BTC under 1 BTC barely moved <0.1% 4 Kraken 15,139 BTC 45 BTC barely moved <0.1% 10 Coinbase 7,604 BTC under 1 BTC barely moved <0.1% 3 Bitstamp 3,593 BTC under 1 BTC barely moved <0.1% 1 Two different measurements, side by side. “On addresses we know” is the Bitcoin sitting on the addresses we have a name for, as of 2026-09-07. Read it as a floor, not a total: it is what we can see, never everything an exchange holds. “Coins we can trace” is the Bitcoin in the whole wallet groups our tracing attaches to that exchange, as of 2026-09-05. An exchange showing “none we can see” has traceable groups that hold nothing today: its coins sit in wallets that only ever receive, and those never show us who owns them. Neither column contains the other, so the gap between them is not a number worth taking.
Together these 6 exchanges hold 773,905 BTC on addresses we know, about 48% of the Bitcoin on every exchange address we know. The rest sits with exchanges we hold addresses for but do not give a page of their own, so these rows are not meant to add up to the total at the top of this page.
What were those coins worth when they arrived?
$55,486average price when they landedWhat a Bitcoin was worth on the day it arrived, averaged over the traced pile.99.8%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?
20 of 61We can separate 61 distinct exchange owners in the traced set, and 20 of them moved coins on this day. Between them they took in 1,031 BTC and released 1,089 BTC, so 58 BTC more left than arrived.
An owner here is a group of wallets the chain shows under one hand. It does not say which company that is.
Can I look at one exchange on its own?
Yes, for 6 of themEach of those exchanges has a page of its own, and every reading we take there has a page under it: how much money is riding on open bets, what those bets cost to hold, which way the crowd is leaning, how much is queued near the current price, how much was closed out by force, and how much actually traded. None of it is bought in, and none of it depends on anyone else's claim about who owns which wallet.
The chain side per exchange, how much each one holds in the wallet groups we can trace, is the table above, measured from the same owner data as the rest of this page. It lands on each exchange's own page next.
Understanding Bitcoin Exchange Reserves and Net Flows
Where it stands today
The exchange addresses we know hold 1,623,224 BTC, which is 8.08% of all Bitcoin as of .
Binance holds 479,181 BTC in the wallet groups we can trace, the most of any exchange as of .
The 606,149 BTC we can trace arrived at an average of $55,486 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 the coins two ways and keeps them apart on purpose. One count is the coins sitting on the exchange addresses we have identified, counted directly with no guessing about which other wallets belong to the same exchange. The other is the set of exchange wallet groups we can pick out of the chain ourselves, by watching which addresses spend together. Both are measured by Maketo, and the page says which one every number comes from.
Neither count contains the other, so the page never subtracts one from the other. Today the addresses we know hold far more than the groups we can trace, 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 that method. Exchanges keep most of their Bitcoin in an offline vault that receives coins and then sits still for years, which means the part the tracing cannot see is mostly the part that never moves.
What the traced set buys is a set of questions a plain count 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 the traced set, and this page says so each time it prints one. The table of exchanges is measured on that set too, which is why an exchange can show no coins we can trace while holding plenty on addresses we know.