Zabo Research: BTC Leads Exchange Holdings, ETH Close 2nd, DeFi Dominates Top 20
DALLAS, TX, UNITED STATES, March 23, 2021 /EINPresswire.com/ — Using anonymized and aggregated data derived from over 25 leading cryptocurrency exchanges, including Coinbase, Binance, Kraken and others, Zabo has released its first summary analysis of off-chain, custodial cryptocurrency holdings. Zabo is the leading data aggregator for cryptocurrency, with support for over 50 exchanges and thousands of cryptocurrencies.
Historically on-chain data directly from Bitcoin, Ethereum and others has been used to understand the complex web of interactions within cryptocurrency networks. While on-chain data is useful, one limitation is the consolidation of many user accounts at exchanges into a few, managed wallets.
Zabo’s latest custodial holdings data (off-chain) picks up where on-chain data leaves off, providing a unique insight into asset holding trends on the major exchange platforms. As part of their analysis, Zabo released the top 20 assets by holding percentage:
Zabo has shared some of the findings from the data:
– BTC dominates the holding percentage of cryptocurrency held in custodial wallets at 47%
– ETH separates itself from the rest and is a relatively close second place at 38% of wallets
– DOGE is a top 20 asset by holding percentage
– Ethereum-based DeFi assets dominate the top 20, including LINK, GRT, COMP, UNI and AAVE
– Despite being outside the top 10 by market capitalization, Stellar Lumens (XLM) are a top 3 asset by holding percentage, likely because of prior airdrop programs
Alex Treece, Co-Founder of Zabo said: “We’re excited to release these results and looking forward to seeing how it evolves over time. This is a unique dataset that adds to the existing, amazing work being done by on-chain analysts to understand the complex web of cryptocurrency movements and holdings.”
For a full breakdown of March’s data please see here.
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