Exchange Internal Transfer Ratio by Exchange
- 1M1M
- 3M3M
- 6M6M
- 1Y1Y
- ALLALL
About this metric
What it measures
Exchange Internal Transfer Ratio by Exchange compares BTC moved between a venue's own wallets with its tracked BTC balance over the calculation window. It is capped at 1 and displayed from 0% to 100%; the chart includes Coinbase, Binance and other venues alongside the All exchanges series.
How to read it
Higher ratios mean more internal BTC movement relative to reserves, whereas lower ratios mean less reshuffling on that basis. The All exchanges series has a full-history median near 7.43% and reached its 100% ceiling on September 14, 2021. A ceiling reading identifies intense measured turnover, but does not count the fraction of unique coins moved.
Repeated wallet moves can count the same BTC several times, and a shrinking reserve balance can lift the ratio without greater transfer volume. Windowing, caps and address labels affect comparisons; use the All exchanges line as its own reference series rather than adding or simply averaging the venue percentages.
- Frequency
- Daily (UTC 00:00)
- Asset
- BTC
- Category
- Institutions & Exchanges
- Type
- Breakdown
- Data since
- 2011-08-17
- Latest data
- 2026-10-27
FAQ
Does a 100% internal transfer ratio mean every coin moved?
No. The ratio is capped, and the same coins can contribute more than once to internal volume. A ceiling reading cannot identify how much distinct supply moved or the uncapped magnitude.
How does this ratio differ from Intra-Exchange Transfer Volume?
The volume series reports BTC moved internally each day. The ratio puts internal movement relative to a reserve balance over its calculation window, so its percent scale is not a direct BTC amount.
Does heavy internal reshuffling mean customers are withdrawing?
Not by itself. Internal transfers stay within the identified venue's wallet system, while a customer withdrawal normally crosses that boundary. Wallet maintenance and liquidity routing can also lift internal movement.
