Retail investors’ habits vary between exchanges when it comes to Bitcoin

Definition

Breakdown of the net flow of coins into/out of exchanges by the USD value of the transactions.

Quick Take

• Retail transactions are defined as less than $10,000 (dark green) and less than $100,000 (light green).
• A very noticeable difference between Gemini, Kraken, and Coinbase transactions.
• Throughout 2023 Gemini and Kraken retail users’ dominant behavior is seen with withdrawals.
• However, data suggests that retail investors prefer to deposit Bitcoin on Coinbase.
• This may suggest users feel more comfortable leaving Bitcoin on Coinbase in relation to Kraken and Gemini.

Analyst

James Van Straten

Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.

@jvs_btc LinkedIn Email James

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