The Top 8 Crypto Exchanges by Reserves; Binance Holds a $130.1B War Chest

That determine places Binance properly forward of the subsequent 9 exchanges mixed in some classes, in accordance with portfolio knowledge pulled from Arkham’s blockchain analytics platform. The rankings, logged on July 6, 2026, primarily based on real-time pockets balances somewhat than self-reported figures, give merchants a uncommon have a look at precisely what sits behind every trade’s reserves.

Numbers like these not often get a lot scrutiny past a headline complete. Bitcoin.com Information dug into the wallet-level breakdowns behind eight main exchanges to see what these totals are literally product of, and the solutions fluctuate greater than most individuals would guess.

Binance

Binance’s $130.1 billion conflict chest begins with bitcoin. The trade holds 673,071 BTC price $42.8 billion, greater than every other trade tracked on this evaluation. However the actual story sits one line down. Binance is holding 40.98 billion USDT, a stablecoin stability so massive it dwarfs the market cap of most high 20 crypto property outright.

Add in 7.68 billion USDC and roughly $6 billion extra unfold throughout USD1 and USYC, and Binance is sitting on near $58 billion in dollar-pegged tokens alone. Its ethereum place tells its personal story too. Between 4.09 million ETH and three.306 million WBETH, a wrapped staked ether by-product, Binance’s complete ether publicity edges previous $13.8 billion. Arkham’s explorer tracks 64.4 million addresses tied to the trade, a footprint matched by just one different platform on this evaluation.

Coinbase

Coinbase’s $87.96 billion in tracked property leans exhausting on bitcoin, with 975,503 BTC price $62.03 billion making up greater than 70% of the trade’s complete portfolio. What units Coinbase aside from Binance is what comes subsequent. Coinbase holds 4.146 million ETH price $7.41 billion, edging out Binance’s native ETH place and making Coinbase the biggest single holder of ethereum among the many exchanges written about on this editorial.

The trade additionally carries 11.69 billion USDC, Circle’s stablecoin, plus smaller positions in solana ( SOL), chainlink (LINK) and a notable 1.181 million zcash (ZEC) stake price $531.07 million. Arkham lists 68.5 million addresses linked to Coinbase, the biggest tackle rely on this complete evaluation.

OKX

OKX holds $23.21 billion in tracked property, and in contrast to Binance or Coinbase, its largest guess shouldn’t be bitcoin. OKX’s largest place is 9.337 billion USDT, price $9.34 billion, forward of its 124,316 BTC stack price $7.92 billion.

The trade rounds out its high holdings with 1.193 million ETH price $2.13 billion and a mixed $1.45 billion unfold throughout USDC and USDG. Arkham tracks 29.4 million addresses linked to OKX on July 6, 2026.

Upbit

South Korea’s largest crypto trade Upbit holds $19.12 billion in tracked property, and bitcoin does the heavy lifting. The Seoul-based trade holds 188,366 BTC price $11.97 billion, near two-thirds of its complete portfolio.

Behind that sits 1.713 million ETH price $3.06 billion and a retail-flavored tail of dogecoin (DOGE) and shiba inu ( SHIB), alongside Ondo Finance tokens that time to an lively South Korean buying and selling base chasing each meme cash and tokenized real-world property ( RWAs). Arkham tracks 2.6 million addresses tied to Upbit.

Robinhood

Robinhood holds $18.6 billion in tracked property, led by 189,849 BTC price $12.07 billion and 1.672 million ETH price $2.99 billion. The place Robinhood stands aside is meme coin publicity.

The brokerage’s crypto arm holds 27.886 billion DOGE price $2.14 billion, the biggest dogecoin place of any trade within the high eight, plus a large SHIB stack and 38.616 trillion PEPE, a token that hardly registers anyplace else on this listing. Arkham tracks simply 1.6 million addresses linked to Robinhood, the smallest footprint on this evaluation, regardless of its multibillion-dollar reserve.

Bitfinex

Bitfinex holds $18.59 billion in tracked property, led by 163,598 BTC price $10.42 billion. However Bitfinex’s second largest holding shouldn’t be ethereum ( ETH).

It’s LEO, the trade’s personal token, and the place is price $6.18 billion, greater than seven instances bigger than Bitfinex’s 470,476 ETH stack. Bitfinex additionally carries 53,222 XAUT, a tokenized gold asset price $220.96 million and never held in any significant dimension by every other trade on this evaluation.

Kraken

Kraken holds $16.11 billion in tracked property, led by 163,033 BTC price $10.37 billion and 962,974 ETH price $1.72 billion. Kraken retains a diversified stablecoin e book throughout USDC and USDT, however the standout element is 396,027 ZEC price $178.03 million, a zcash place that places Kraken alongside Coinbase as one of many solely main exchanges holding a privateness coin in dimension.

Arkham tracks 7.1 million addresses tied to Kraken general.

Bybit

Bybit holds $13.99 billion in tracked property, led by 4.414 billion USDT price $4.41 billion and 60,013 BTC price $3.82 billion.

Its third largest place is 2.517 billion MNT, the native token of the Mantle community, price $1.11 billion, a series carefully tied to Bybit’s ecosystem. Arkham tracks 17.4 million addresses linked to Bybit.

What This Means for Merchants

For merchants and buyers monitoring trade well being, the most important sign is focus danger. All eight exchanges maintain a minimum of 40% of their reserves in bitcoin, ethereum or a serious stablecoin, an indication that the majority platforms nonetheless lean on the identical three asset classes no matter their dimension or regional base.

The tackle counts tracked by Arkham additionally level to a divide between attain and reserve dimension. Coinbase and Binance lead with 68.5 million and 64.4 million addresses, respectively, whereas Robinhood holds the smallest tackle rely within the group at 1.6 million regardless of rating fifth by complete greenback worth.

That hole exhibits greenback holdings and consumer base dimension don’t transfer in lockstep throughout the trade, a distinction price watching as exchanges compete for each liquidity and market share heading into the subsequent stage of the cycle. For merchants sizing up the place the actual cash sits, the totals inform solely a part of the story. What every trade chooses to carry, and the way concentrated these holdings are, tells the remaining.