BitMEX, the earth's largest cryptocurrency exchange past daily trading volume to appointment, at present holds 0.18% of all Bitcoins (BTC) in apportionment.

In a Dec. 26 tweet, James Lopp, CTO at New York-based crypto custody startup Casa, also pointed out that BitMEX's dedicated insurance fund has surged 62% in 2022.

BitMEX holds 33,449 Bitcoins out the eighteen.1 million mined to engagement

Co-ordinate to daily historical records of BitMEX Insurance Fund, the balance of the fund has grown from twenty,776 BTC on Jan. 1, 2022 to 33,449 BTC on December. 26, worth around $239 one thousand thousand at press time.

As such, the earth's peak Bitcoin exchange at present owns nigh 0.two% of all 18.1 million bitcoins mined to date.

Bitcoin in BitMEX Insurance Fund (January–December 2022)

Bitcoin in BitMEX Insurance Fund (January–December 2022). Source: Twitter

BitMEX Insurance Fund is used to convalesce unfilled liquidation orders

The BitMEX Insurance Fund is used past the crypto exchange to avoid auto-deleveraging in traders' positions and alleviate unfilled liquidation orders before they are taken over by the automobile-deleveraging arrangement.

According to the firm, the growth of the fund provides a significant level of assurance to winning traders that they will be able to attain their expected profits, at the same fourth dimension limiting the downside liability for losing traders.

Essentially, BitMEX uses its defended insurance fund to comprehend losses in case trading losses exceed traders' deposits.

Crypto exchanges continue to accumulate Bitcoin

While the amount of Bitcoin owned past BitMEX continues to abound, in that location is a similar trend on other major crypto exchanges including major crypto exchange Binance. As reported by Cointelegraph, as much equally 7% of the entire circulating supply of Bitcoin was held in the wallets of eight cryptocurrency exchanges in October 2022.

According to the blockchain data provider Token Analyst, major global crypto exchanges such as Poloniex, Kraken, Bitstamp, Bittrex, Bitfinex, BitMEX, Binance, and Huobi have continued to accrue crypto in 2022 and were the "biggest HODLers" as of Oct.