A quant has explained how altcoin inflows into cryptocurrency exchange Binance might act as a leading indicator for the market.
Spikes In Binance Altcoin Inflows Tend To Precede Corrections
In a CryptoQuant Quicktake post, an analyst has talked about the trend in the altcoin exchange inflows going to Binance. The indicator of relevance here is the “Exchange Inflow Transaction Count,” which measures, as its name suggests, the total number of deposit transactions that investors are making to a given centralized exchange.
Below is a chart for the indicator that shows the trend in the altcoin deposits occurring on the various exchanges.
As is visible in the graph, the altcoin Exchange Inflow Transaction Count peaked on all exchanges right before both the 2024 market tops, implying that deposit activity intensified on the platforms. Generally, investors transfer their coins to exchanges when they want to sell, so spikes in exchange inflows can lead into bearish price actio
We współpracy z: https://www.newsbtc.com/altcoin/binance-inflows-leading-altcoins-analyst/
