<p>Cryptocurrency exchanges hold around 3.08 million bitcoins on their customers’ behalf, nearly 16.5% of the total supply of 21 million, according to research conducted by The Block’s Larry Cermak.</p> <p>While the absolute amount looks large, the percentage figure is down by 10% since February 9 when exchanges held around 3.43 million bitcoins, representing nearly 19% of the total supply.</p> <p>Notably, <a href="https://www.theblockresearch.com/despite-the-recent-decline-exchanges-still-hold-more-than-16-of-all-bitcoins-66974">Coinbase is the largest bitcoin holder</a>, having around 984,300 BTC in its wallets. Coinbase is followed by Huobi (413,000 BTC), Binance (318,000 BTC), OKEx (268,000 BTC), and BitMEX (217,000 BTC).<br /> <br /> <img src="https://cdn-images-1.medium.com/max/1600/1*r_cplCCs3dCGwH7uTfYgCA.png" /><span style="font-size: 8pt; color: #999999;">Source: The Block, bitUniverse, chain.info, Glassnode Peckshield, BitFury, BitcoinWhosWho</span><br /> <br /> The Block analyzed data from different sources, including bitUniverse, chain.info Glassnode, Peckshield, BitFury and BitcoinWhosWho, to find the most accurate amount of bitcoins <a href="https://www.theblockcrypto.com/data/on-chain-metrics/flows/bitcoin-flows">held by crypto exchanges</a>.</p> <p>To read the <a href="https://www.theblockresearch.com/despite-the-recent-decline-exchanges-still-hold-more-than-16-of-all-bitcoins-66974">full analysis</a> and more such data-driven stories, subscribe to <a href="https://www.theblockcrypto.com/genesis">The Block Research</a>.</p>