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The four major exchanges control 80% of XRP supply: Korean platforms have a clear advantage
【Crypto World】The XRP exchange ecosystem exhibits a highly centralized characteristic. The top four exchanges—Upbit, a leading exchange, Bithumb, and Uphold—almost monopolize XRP reserves on the exchange side, collectively controlling about 80% of the exchange supply, totaling 12.3 billion tokens.
Korean exchanges stand out. Upbit holds 2.5 times the amount of XRP compared to a leading exchange, which is a significant gap. Upbit and Bithumb together control over 52% of the listed circulating supply, highlighting the influence of Korean platforms on the XRP ecosystem. Uphold, also ranking high, reflects its long-term support for XRP.
Interestingly, Exchange-Traded Products (ETPs) account for only about 1% of the total XRP supply, indicating that investors accessing XRP through structured products are still limited, leaving considerable room for market imagination.