Exchange-to-Exchange Transfer Count
- 1M1M
- 3M3M
- 6M6M
- 1Y1Y
- ALLALL
- LinearLinear
- LogLog
About this metric
What it measures
Exchange-to-Exchange Transfer Count counts daily on-chain BTC transfers from one identified exchange to another, in transfers. It measures how often coins move between venues rather than how many BTC move or how many trades are executed.
How to read it
A higher count indicates more frequent movements between exchanges, potentially linked to liquidity redistribution, arbitrage or collateral management. The recorded high was 41,175 transfers on January 4, 2018; the highest daily count in 2024 was 12,863, so recent activity need not approach earlier peaks even when price is elevated.
Transfers between venues do not by themselves add coins to the combined exchange sector. Address attribution, batching and operational changes affect the count, and it reveals neither the motive for a transfer nor whether a trade followed. Compare it with the corresponding BTC volume.
- Frequency
- Daily (UTC 00:00)
- Asset
- BTC
- Category
- Transfers & Transactions
- Type
- Single value
- Data since
- 2012-02-18
- Latest data
- 2026-10-27
- Data points
- 5,366
FAQ
How does this differ from internal exchange transfers?
This series concerns movement between different identified exchanges. Wallet movements within the same exchange describe internal operations instead of a change of venue.
Do exchange-to-exchange transfers increase total exchange reserves?
If both sides are identified, coins leave one exchange and enter another, leaving the combined balance broadly unchanged. Individual exchanges' balances can still change.
Can transfer count rise while BTC volume falls?
Yes. More transfers of smaller amounts can raise the count while lowering total BTC moved. Reading count and volume together helps distinguish frequency from size.
