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New off-chain custodial wallet data available from Zabo
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:
– 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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