On-chain data shows the exchange inflows across the crypto market have remained low recently. Here’s what this trend might mean.
Exchange Inflows Of Major Crypto Assets Have Been Subdued Recently
According to the on-chain analytics firm Glassnode, exchange inflows across the major assets are currently near cyclical lows. The “exchange inflow” is an indicator that measures the total amount of a given crypto that’s being transferred to the wallets of all centralized exchanges.
When the value of this metric is high, it means that the investors are depositing some tokens of the asset to these platforms right now. As one of the main reasons why holders would send their coins to exchanges is for selling-related purposes, this kind of trend can have bearish implications for the crypto’s price.
On the other hand, low values of the indicator imply that the exchanges aren’t receiving that many coins at the moment. Depending on other factors, such a trend can be either neutral or bull
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