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CryptoQuant.com Profile picture
@cryptoquant_com
Jan 6, 2023 • 8 tweets • 4 min read • Read on X
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#Gemini Exchange on-chain analysis in the context of Genesis-
@Gemini Liquidity Issues 🧵👇
From an on-chain perspective, Gemini has been experiencing declining exchange activity:

1- Cryptocurrency reserves (BTC, ETH, and stablecoins reserves are at multi-year lows),
2- BTC deposits from other exchanges into Gemini (a sign of users avoiding sending their money to Gemini)
3- Trading volume (BTC trading volume was down 52% YoY in December 2022 and is just a fraction of what it was in previous years).
Nonetheless, Gemini seems to have continued processing exchange user withdrawals without trouble.
To follow the above and other metrics related to Gemini Exchange, visit our Gemini Exchange Analysis Dashboard 👇

cryptoquant.com/dashboard/63b4…
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More from @cryptoquant_com

CryptoQuant.com Profile picture
May 2
🧵 #Bitcoin valuation struggles below $60K post-Q1 2024, showing a demand drop.

Key factors: fewer permanent holders, dwindling whale activity, and lower spot ETF interest.

Let's dive into it ⬇️
Market sentiment towards Bitcoin is waning, evident from negative Coinbase premiums and lesser leverage in futures.

This decrease in enthusiasm suggests a cautious approach from traders. Image
A slowdown in $BTC demand from large investors (whales) is evident. The growth peaked at 12% monthly in late March, now down to 6%.

Such deceleration affects potential price rallies, which rely on robust whale demand. Image
Read 6 tweets
CryptoQuant.com Profile picture
Dec 11, 2023
What Data Changed Before The Price Correction?

1. SSR hits a 2-year high
2. Mara Pool's Distribution
3. 50%+ Circulating Bitcoin Supply in Profit
4. Long Term Holders' Resistance

The majority of the latest Quicktake posts flagged #Bitcoin price correction.

Thread🧵
Image
Image
1/ SSR hits a 2-year high

"In essence, a high SSR(Stablecoin Supply Ratio) means that Bitcoin is perceived as having greater value compared to stablecoins, showing that market participants are placing higher value on Bitcoin."

Quicktake Post by @Woo_Minkyu Image
2/ Mara Pool's Distribution

"The decision to distribute part of its positions after a recent peak suggests a strategic caution, possibly aiming to optimize gains and reduce risks."

Quicktake Post by @joao_wedson Image
Read 6 tweets
CryptoQuant.com Profile picture
Aug 10, 2023
1-3/ Can we verify @Tether_to being the 11th largest #Bitcoin holder with the on-chain data?

4-6/ What is the blind spot of on-chain data when monitoring #Whales' behavior?

Let's BUST this week's FUDs with our on-chain data.

Thread🧵
1/ #Tether

Tether revealed in its recently released quarterly report that it holds approximately $1.6 billion worth of #Bitcoin.

The amount of bitcoin held by Tether puts it roughly 11th in terms of holdings.
2/ #Tether

If you look at the "so-called Tether #Bitcoin holding wallet on Twitter," it doesn't match the description in Tether's quarterly report. 

While there were no bitcoin holdings in last year's Q4 report, the wallet did start accumulating bitcoin.
Image
Image
Read 8 tweets
CryptoQuant.com Profile picture
Jul 3, 2023
#Bitcoin Institutional Fund Accumulation Trends
by @OnchainTarek

Thread🧵
1/ "Fund holdings" refer to the cryptocurrency holdings of institutional investors, including hedge funds, investment firms, and cryptocurrency private funds. Analyzing the holdings of these funds provides valuable insights into the market dynamics and investor sentiment.
2/ By closely observing fund holdings, we can identify a significant upward trend in the accumulation of bitcoins by these institutional entities. This exponential increase in holdings indicates a strong interest to acquire #Bitcoin, even at its current price level.
Read 5 tweets
CryptoQuant.com Profile picture
Jun 6, 2023
Binance Exchange On-Chain Analysis in the Context of CFTC-SEC-Binance Lawsuit Cases

On a nominal basis, Binance has experienced large net outflows of Bitcoin and Ethereum after today's SEC lawsuit announcement.

Details on the thread🧵
1/4
 These net outflows are more significant than when the CFTC sued the exchange in March 2023. However, net outflows so far are smaller than what the exchange has experienced in other periods of "stress" (or regulatory FUD).
$BTC, $ETH, $Stablecoins ImageImageImage
2/4
 Moreover, these net outflows are small relative to the level of reserves in the exchange.
In the case of stablecoins(ERC20), reserves at Binance have been decreasing significantly, from $24.5B in Dec. 2022 to $8.2B. This has been mostly the result of a decrease in $BUSD. ImageImageImageImage
Read 5 tweets
CryptoQuant.com Profile picture
Mar 30, 2023
Binance Exchange's Health After the CFTC Lawsuit

CQ's research team assessed the behavior of Binance net-outflows and reserves of $BTC, $ETH, and Stablecoins in three recent stress-test periods.
- Regulatory FUD after FTX Collapse
- Paxos' announcement
- CFTC lawsuit

Thread🧵
1/ #Bitcoin

Regulatory FUD
A netflow of -40,353 BTC in a day and total netflows of -78,744 BTC in a week.

Paxos' announcement
The largest daily netflow was on Feb 12th for -5,027 BTC.

CFTC lawsuit
A daily netflow of -4,505 BTC.

They have remained inside historical ranges.
2/ #Ethereum

Regulatory FUD
The highest daily netflow was -278k ETH.

Paxos' announcement
The daily netflow was -79,706 ETH

CFTC lawsuit
A daily netflow of -76,146 ETH

They have remained inside historical ranges.
Read 7 tweets

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