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Definition This chart presents the relative dominance of exchange-related deposits and withdrawals with respect to all confirmed transactions. This chart presents the following traces: Total Transaction Count Total Deposit Transactions […]
This chart presents the relative dominance of exchange-related deposits and withdrawals with respect to all confirmed transactions.
This chart presents the following traces:
Total Transaction Count
Total Deposit Transactions
Total Withdrawal Transactions
Exchange Transaction Dominance (%)
Over a 14 DMA, Bitcoin deposits head lower as 2023 progresses, in line with the 2019 bear market.
However, since the FTX collapse, Bitcoin withdrawals have been greater than deposits for the first time in Bitcoin history.
This trend has continued into 2023, but the gap is getting closer between deposits and withdrawals.
The transaction count is up considerably, mainly due to the traction of Ordinals.
Exchange Transaction Dominance: (Source: Glassnode)
The post Bitcoin exchange deposits decline, mimicking 2019’s bearish trend appeared first on CryptoSlate.
