Fast Take
- The next chart presents the relative dominance of exchange-related deposits and withdrawals with respect to all confirmed transactions, in line with Glassnode information as of June 16. The chart presents the next traces:
Whole Transaction Depend
Whole Deposit Transactions
Whole Withdrawal Transactions
Trade Transaction Dominance (%)
- Prior to now six months, trade withdrawals have surpassed trade deposits for the second time.
- The primary time this occurred was through the FTX collapse in 2022, as traders began to take custody of their cash and take away them from exchanges.
- This pattern continued into 2023 however then began to drop off.
- Nevertheless, we are actually seeing withdrawals begin to outpace deposits once more, which first began on June 5, the day of the primary SEC lawsuit.
- This pattern has continued, and divergence has solely grown.
- The present trade withdrawals are 58,000 Bitcoin, whereas trade deposits are 49,000 Bitcoin.
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