Binance Dominance: Bitcoin Concentration Accelerates Amid Exchange Closures

The recent closure of several exchanges has accelerated the concentration of Bitcoin in Binance's reserves. According to an analysis by CryptoQuant, the number of smaller exchanges is dwindling due to rising regulatory costs and lower operational volume.

Binance's BTC reserves have increased from around 615,000 in May to approximately 655,300 in July. This trend reflects a structural shift in the industry where liquidity is concentrating in an increasingly smaller number of large platforms.

The closures of BitMEX and BitMart add to this trend, with both exchanges shutting down due to difficulties adapting to regulatory requirements and institutional demand.