Entity-Adjusted Realized Profit to Exchanges
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Entity-Adjusted Realized Profit to Exchanges adds up the positive USD gains on coins transferred into identified exchange addresses each day, across holder age groups. Each gain is the transfer value less acquisition cost; movements within the same identified entity are excluded.
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A surge means exchanges are receiving coins with larger aggregate gains, potentially increasing profit-taking pressure. Falling values indicate less profit carried by deposits, whether from fewer coins or smaller gains per coin. The historical high was about $1.49 billion on July 30, 2024, with BTC near $66,819; it was not recorded at Bitcoin's highest price.
A few old, low-cost holdings can dominate the total, and exchange deposits need not result in sales. This is gross profit rather than net profit or net exchange flow; changing address coverage and imperfect entity clustering also affect comparisons across dates.
- Tiheys
- Päivittäin (UTC 00:00)
- Omaisuuserä
- BTC
- Kategoria
- On-chain-indikaattorit
- Tyyppi
- Yksittäinen arvo
- Yksikkö
- USD
- Dataa alkaen
- 2011-08-17
- Uusin data
- 2026-10-28
- Datapisteet
- 5,552
UKK
How does total profit to exchanges differ from its STH version?
The total includes profitable deposits from all holder age groups, while the STH version isolates recent holders. Long-held, low-cost coins can contribute large gains to the total even when recent holders realize little profit.
Can exchange net flow be negative while realized profit to exchanges is high?
Yes. Net flow subtracts BTC withdrawals from deposits, while this metric sums USD gains on profitable incoming coins only. Large withdrawals can outweigh deposits even when those deposits carry substantial profit.
Why does the biggest profit inflow not have to occur at the price high?
The result depends on how many coins are deposited and how far their cost lies below the transfer price. A large movement of low-cost coins can outweigh a smaller movement at a higher market price.
