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.

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