Entity-Adjusted STH Realized Profit to Exchanges
- 1M1M
- 3M3M
- 6M6M
- 1Y1Y
- ALLALL
- LinearLinear
- LogLog
About this metric
What it measures
Entity-Adjusted STH Realized Profit to Exchanges totals the positive USD gains carried by short-term holders' transfers into identified exchange addresses each day. Gains are transfer value minus acquisition cost, excluding moves within one identified entity; the short-term cohort is defined around a 155-day average acquisition age.
How to read it
Large readings place more recent-holder profit at exchanges, where it may become available for trading; small readings show little profitable deposit activity from this cohort. On November 12, 2024, the series peaked near $376.3 million with BTC around $88,706, a different peak date from the all-destination STH profit series.
Deposits may fund collateral, custody or market-making rather than a sale. Exchange labels and entity estimates can change, and this series excludes both loss-making deposits and profit realized outside tracked exchanges, so a low reading cannot establish that recent holders have stopped moving coins.
- Frequency
- Daily (UTC 00:00)
- Asset
- BTC
- Category
- On-chain Indicators
- Type
- Single value
- Unit
- USD
- Data since
- 2011-08-17
- Latest data
- 2026-10-27
- Data points
- 5,551
FAQ
Is STH profit to exchanges the dollar value of deposits?
No. It counts only the positive difference between the deposited coins' transfer value and their acquisition cost. The full deposit value includes the original cost as well.
Why can STH realized profit rise while profit to exchanges falls?
The broader series includes profitable transfers to all destinations. If more of those transfers go to non-exchange entities, total STH profit can rise even as the exchange-bound portion falls.
Does a profitable exchange deposit confirm a sale?
No. The chain records a deposit, not an execution on an exchange order book. It shows gains associated with coins arriving at a trading venue, not confirmed cash proceeds.
