Exchanges that cater to everyday traders use more of their funds for actual trading compared to those serving larger institutions. Platforms like Coinbase, Binance, and Kraken, which focus on institutional clients, keep a smaller ratio of trading volume to their reserves—around 0.1.
This indicates that deposits are largely held rather than actively traded.
Asset Utilization Diverges
A recent CoinGecko report shows that platforms popular with individual traders, like Bybit and Bitget, have seen increased trading activity. Between January 2024 and February 2026, these platforms averaged ratios of 0.3 and 0.5, indicating a higher volume of trades.
Smaller cryptocurrency exchanges like MEXC, HTX, and KuCoin see assets traded very quickly – between 1.44 and 2.04 times over – suggesting a lot of trading activity compared to the amount of cryptocurrency they hold in reserve.
CoinGecko data shows a significant increase in assets held on the largest cryptocurrency exchanges. The total value of these assets jumped almost 70% between the beginning of 2024 and February 2026, rising from $152.1 billion to $225.4 billion.
During this time, eight cryptocurrency exchanges saw their Bitcoin holdings increase. Binance experienced the biggest jump, doubling its reserves. However, Coinbase still holds the most Bitcoin overall, with over 800,000 BTC, and Binance comes in second.
I’ve noticed some interesting movement in the crypto markets lately. Coinbase has been seeing a lot of Bitcoin and Ethereum being withdrawn, and it looks like some of that money is flowing to other exchanges. Specifically, I’m seeing big jumps in the reserves of platforms like Bitget and MEXC, suggesting people are moving their funds there.
Post-Listing Price Action
The report found that, besides concerns about reserved shifts, newly listed tokens generally don’t perform well on major exchanges. Only around 32% trade above their initial listing price within the first month. Upbit is an exception, with about 67% of its listings remaining profitable, though it lists fewer tokens compared to other exchanges.
Binance and OKX also show promising initial gains, typically around 50%. But these gains don’t usually last. After a month or so, only about 25% of tokens are still showing a profit. Over time, this percentage continues to decrease on most exchanges.
As a crypto investor, it’s been tough seeing so many tokens drop after they first hit exchanges. But I’ve noticed Coinbase is a bit different. Some tokens listed there are actually bouncing back after about six months, which is encouraging. Generally, you see most tokens – less than 10% – fall *below* their initial listing price within a year, so Coinbase seems to be doing something right.
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2026-04-13 00:38