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About Exchange Holdings
The Exchange Holdings Dashboard tracks how much cryptocurrency is sitting in centralised exchange wallets across the major venues: Coinbase, Binance, Bitfinex, Kraken, OKX, Bybit, Bithumb, Gate, and dozens more. Exchange balances are one of the most-watched on-chain signals in crypto because they represent coins immediately available for sale. When balances rise, sellers are moving coins onto venues in preparation for liquidation; when balances fall, coins are being withdrawn to self-custody or long-term storage. This is a classic supply-squeeze signal. The dashboard supports over 30 assets (BTC, ETH, SOL, XRP, and the full long tail including SUI, ONDO, HYPE, TAO) and offers seven analytical views. **Balances** stacks the top-eight exchange holdings over time with a total overlay. **Net Flow** renders 7-day rolling net flow as colour-coded bars (cyan for inflows, red for outflows). **Dominance** shows market share percentages stacked to 100%, revealing how share shifts between venues over time. **Treemap** provides an instant visual hierarchy of current holdings with 30-day change colour-coding. **Tables** offers a sortable leaderboard with 7D/30D heatmap-coloured change columns. **Exchange** drills into any single venue with its top asset holdings and historical balance chart. **Premium** (BTC-only) overlays the **Coinbase Premium**, which is the price differential between Coinbase and other venues that signals US institutional buying pressure. The Hero strip anchors the dashboard with eight key metrics: total on exchanges, supply percentage on exchanges, 7D / 30D / yearly net flow, exchange count, largest individual holder, and the 30-day dominance shift showing which venue gained or lost the most market share. All metrics update with smooth counting animations as data loads. Flow pills beneath the hero highlight the three most significant 30-day flow events: biggest inflow, biggest outflow, and the most volatile venue by percentage change.
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Trading Signals by Regime
How It Is Calculated
Frequently asked questions
Why are exchange balances considered a leading indicator?
Coins sitting on a centralised exchange are immediately available for sale. One click and they're on the order book. Coins in self-custody require a transaction, confirmation, and transfer to a venue before selling is possible. When aggregate exchange balances trend down over weeks or months, it means holders are making a deliberate decision to move coins off venues, which is a commitment signal that reduces near-term sell-side liquidity. Historically, sustained outflow regimes have preceded major bull-market advances; sustained inflow regimes have preceded distribution phases.
What is the Coinbase Premium and why is it BTC-only?
**Coinbase Premium** is the price differential between Coinbase (a US-regulated, institutional-heavy venue) and the average of other major USD venues. When it's positive, US-based buyers are paying a premium to acquire Bitcoin. Historically this a reliable signal of institutional bid. When negative, US demand is weaker than global demand. The metric is BTC-only in this dashboard because the Coinbase Premium signal is most studied and most reliable on Bitcoin; applying it to altcoins introduces too much noise from venue-specific listing differences and lower institutional participation.
Which exchanges does the dashboard cover?
The dashboard covers all major centralized exchanges with significant crypto holdings: Coinbase, Binance, Bitfinex, Kraken, OKX, Gemini, bitFlyer, Bybit, Bithumb, Gate, Bitmex, KuCoin, Bitstamp, Korbit, Coinone, Poloniex, CoinEx, GOPAX, Bitget, and Huobi. Each has a distinctive brand colour throughout the dashboard so users can track specific venues across views at a glance. FTX and Bittrex are explicitly blocked from aggregates since they're no longer operational.
How should I interpret the Dominance view?
The **Dominance** view shows each exchange's percentage share of total exchange holdings, stacked to 100% over time. The key insight isn't any individual venue's absolute share - it's *changes* in share. When Coinbase gains dominance versus Binance, institutional capital is rotating toward US custody (historically bullish). When retail-heavy venues like Bybit gain share, speculative activity is increasing (historically late-cycle). The 30D Dominance Shift metric in the Hero strip highlights which venue had the most significant gain or loss.
What does the Treemap's colour coding mean?
The **Treemap** sizes each exchange's tile by its current balance and colours it by the 30-day percentage change. Cyan tiles indicate inflows (coins accumulating); red tiles indicate outflows. Grey tiles are flat. Clicking any tile opens that exchange's deep-dive view with its top asset holdings and balance history. The Treemap is the fastest way to spot coordinated flow behaviour. If multiple large tiles are all cyan, distribution is broad; if multiple are red, accumulation is broad.
Why does the Tables view show 7D and 30D heatmap cells?
The heatmap-coloured cells in the 7D and 30D columns allow instant visual scanning of flow direction and intensity across the entire exchange leaderboard. Dark cyan cells (>5% change) are aggressive inflows; pale cyan (2-5%) is moderate inflow; transparent is flat (-0.1% to +0.1%); pale red is moderate outflow; dark red (<-5%) is aggressive outflow. This lets you see at a glance whether one or two venues are driving the signal or whether flow is broad-based across the entire exchange landscape.
How is the 'Supply on Exchanges' percentage calculated?
The dashboard divides the total aggregate exchange balance by hardcoded circulating supply figures (19.85M BTC, 120.5M ETH). These supply numbers are snapshots that need periodic updating as new coins are issued via block rewards or staking emissions. The resulting percentage tells you what fraction of all coins in existence currently sit on tracked centralized exchanges. Historical context matters enormously here: BTC exchange supply has ranged from roughly 11% to 17% of total supply since 2020.
Can I analyse an exchange I don't see in the list?
The dashboard covers the 20+ major centralized exchanges that on-chain analytics providers have labelled wallet clusters for. Smaller regional exchanges, decentralized exchanges, and peer-to-peer venues aren't included because their wallet addresses either aren't publicly identified or aren't clustered reliably enough to produce clean aggregate data. For lit centralized venue coverage, the current list captures the overwhelming majority of global exchange holdings.