Exchanges Transfers Report | Transfers to and from exchanges by date and accounts | May 2022
The price of HIVE has been in a downtrend following the overall crypto market. How is this effecting the transfers to and from exchanges? Let’s take a look!
Here we will be looking at the following:
- Daily and monthly transfers to exchanges
- Monthly transfers to exchanges
- Top accounts that deposited to exchanges
- Daily and monthly withdrawals from exchanges
- Top accounts that withdraw from exchanges
- Net deposits VS withdrawals
Exchanges taken in the analysis: Binance, Huobi, Bittrex, Upbit, Probit, Ionomy, MXC, Bithumb, Gate.io and Indodax. There are few more exchanges but the volume there is quite low.
The period that we will be looking at is Jan 2021 up to today May 2022.
Daily Transfers/Deposits To Exchanges
Here is the chart for the daily transfers/deposits to exchanges.
Note: Transfers between exchanges accounts are excluded from the data above.
It is hard to see the trend here because of the spikes, but overall, looks like there has been more deposits back in November 2021, then a quite 2022 and a small uptrend in the last weeks.
If we look at the monthly chart we have this.
From here we can see the trend more easily. HIVE transfers to exchanges have been going up until November 2021 and then dropped. Starting from December 2021 the deposits to exchanges are much lees and are somewhere in the range of 4M to 6M per month, unlike the 20M and more back in November 2021.
Top Accounts That Deposited To Exchanges
Who has transferred the most funds to exchanges? Here is the chart for the last month.
Note: exchange to exchange transfers are excluded. Those are usually the largest transfers.
The @hivekorea account is on the top with almost 700k HIVE deposited, followed by @toni.point and @xbtsio.
The first account might be some official account from some of the Korean exchanges but not sure. Toni is usually making arbitrages and the third account seems to be a bit a custodial account for the Bitshares DEX.
Daily Withdrawals From Exchanges
What about withdrawals from exchanges? How much has been withdrawn and by who?
Here is the chart for the daily withdrawals to exchanges.
As for the above, here as well the transfers between exchanges accounts are excluded.
We can see the big spike toward the end of August 2021, and then one more daily spike with more than 2M withdrawn in a day in January 2022. This one is probably caused from the 3Speak airdrop.
The monthly chart looks like this.
August is dominating the chart with 37M HIVE withdrawn from exchanges. Quite a big number 😊. We can notice an uptrend in the last month!
Top Accounts That Withdrawn From Exchanges
Who has withdrawn the most funds from exchanges? The buyers? Here is the chart for the last 30 days.
The @token converter account is on the top here. This seems to be an account related to Splinterlands. @toni.point on the second place here as well, working hard on those arbitrages.
@konvik-cold and @yabapmatt in a close race for the third spot.
Net Deposits VS Withdrawals
The net deposit vs withdrawals chart looks like this.
As for the other chart here as well transfers between exchanges account are excluded.
Positive bar means more funds are deposited to exchanges in that month, negative bar is more funds withdrawn from exchanges.
We can notice the huge spike in withdrawals in August and September, and then huge deposits in October and November 2021. Since December 2021 the numbers have been smaller in the both directions.
April and May 2022 both have a small overall net deposits to exchanges with around 0.5M.
When the Hive blockchain was created In April 2020 there was around 106M HIVE on exchanges. This number went up to its high of 135M in July 2021. Then a huge drop to 100M in the next months, and a slow growth from there and now we are at around 125M HIVE on exchanges. The Korean Upbit is a dominant holder for HIVE now with 85M hold on that exchange.
All the best
@dalz
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Nice update and keep up the good work moving.
This data is not bad for hive, it show people really believe in theis project and power of community
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And probably this is because of the lower prices?
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It makes sense there was a spike in deposits to the exchanges in November 2021 - that was when the price spiked to about $2 and people took the opportunity to crystallise the gain.
I suspect that the huge withdrawals and deposits before 2022 in markets are the reason for the huge drop in the currency rate.
There are popular and huge platforms but we find the trading volume of HIVE is low compared to platforms with medium trading volume. Why this difference?
I'm a bit confused by the language.
Deposit to the exchange from Hive?
Withdrawn from the exchange? to where?
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Deposit: A transfer from a private/individual account to official exchange account*
Withdraw: A transfer from an official exchange account* to a private/individual account.
* ie. an account on a list of known exchange accounts
these are just transfers from hive to the exchange and back I presume?
Yes it is transfers to exchanges hive wallets and back
Thanks! Makes sense now.
Great work, very useful :)
They are transactions of type "transfer" recorded on the Hive blockchain between Hive accounts. Exchanges need to have a Hive account (eg. @deepcrypto8, @bittrex, @upbitsteem) to receive Hive deposits and to facilitate withdrawals.
Thanks, that clears it up for me. I thought so, but wasn't sure! :)
Thank you for the information.