PN7YXaTL2FxhqAojKFnJ6hh6xCzxFh1uHE is Bittrex's wallet.
08-Jan Bittrex had only 0.7m coins. But now Bittrex has double. Many investor leave this coin.
And Bittrex still has 1.6m coins. It means coin's price will be down.
PN7YXaTL2FxhqAojKFnJ6hh6xCzxFh1uHE is a Bittrex wallet indeed.
BUT:
That does not mean BITTREX own those coins !
That means they store OUR coins in a common (probably cold) wallet.
So if You have XSP on your Bittrex account, those coins are stored in the same wallet.
I also own some, and many other users too, so ALL of OUR coins are stored in this wallet: PN7YXaTL2FxhqAojKFnJ6hh6xCzxFh1uHE
Try it.
Buy some on the market, then refresh this list. Youll see the amount in this wallet raising with the amount You have just bought...
or
Withdraw your coins from Bittrex, so the amount of this wallet will be decreased by the amount You have just withdrew.
That's correct. Exchanges wallet works exactly as he explained. There is only a main wallet that contains different addresses for all the users of a currency. So that every user can deposit in its own account , obviously. If you want to know how coins are then distributed internally to Bittrex you need to use their beta version: here internal wallet balances are shown by exchange's addresses differentiation.