Discussing the decline of bitcoin inflows into exchanges with Chainalysis
Philip Gradwell, chief economist at Chainalysis, provided this week’s onchain reaction: (37:32) “Bitcoin inflows into exchanges have continued to decline. Last week we saw the lowest seven day average that we’ve seen in six months. This week it’s been even lower. There are now around…
Share
Philip Gradwell, chief economist at Chainalysis, provided this week’s onchain reaction:
- (37:32) “Bitcoin inflows into exchanges have continued to decline. Last week we saw the lowest seven day average that we’ve seen in six months. This week it’s been even lower. There are now around 57,000 BTC flowing into exchanges every day.”
- (38:31) “Overall bitcoin balances continue to rise. Tether balances have actually done much the same, continuing to build.”
- (38:55) “When we look at the flows between the different types of exchanges, actually the net flows between them are almost zero. So while there’s still BTC going back and forth between say crypto to fiat/crypto to crypto exchanges, the flow between those two types is balancing out. That’s interesting. It does suggest that traders responsible for most of the net flows between different types of exchanges are actually happy with where their portfolio of assets is sitting. They think they’re well positioned for what’s to come in the market in the coming days and weeks.”
You may also like
Cybersecurity in crypto: Attack on DeFi Exchanges
What exactly happened in the biggest hack in DeFi? Can it happen again? As the ecosystem grows, its market has also experienced a huge pump with a current market capitalization of over $121 billion. However, this growth has also shined a light on cybersecurity issues….
Decentralisation – coming to a screen near you
You should never laugh at people from the past, unless you’re comfortable with future generations mocking you. But it’s still funny to think that in the early days of radio, families used to gather in front of their giant, sideboard-sized sets and stare at them…
Crypto-backed property purchases are on the rise among first-time buyers
Traditional businesses are partnering with blockchain intelligence firms to facilitate house purchases for a new generation of young crypto entrepreneurs. In December 2017 two properties were purchased in the UK with Bitcoin. The purchases sparked excitement that Bitcoin-backed property transactions would become commonplace, reflecting the…
Recommended
Subscribe to us
Understanding your dog for dummies cheatsheet
Recommended
Subscribe to us
Understanding your dog for dummies cheatsheet