Binance Towers Over Centralized Crypto Exchanges

Binance has solidified its position as the leading centralized exchange in terms of cumulative assets tracked on its on-chain wallets. According to DefiLlama data, Binance holds a staggering $138B in total assets, accounting for almost 64% of the overall tracked assets across centralized exchanges.

This figure is significantly higher than the combined total of other major exchanges, which comes in at around $77.4B. OKX ranks second with $21.6B, followed closely by Bitfinex with $16.8B.

The concentration of assets within Binance highlights a centralization risk and potential liquidity impact on the crypto and DeFi ecosystems. Other notable platforms include Bybit, Robinhood, Bitget, MEXC, and Gemini, which have significantly lower totals at $13.3B, $11.7B, $5.0B, $4.7B, and $4.3B respectively.