Entity-Adjusted STH Realized Profit to Exchanges

Ce măsoară

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.

Cum se citește

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.