Last month, we introduced the ‘Balances’ tab for Ether (ETH) in Token God Mode. Now, we're excited to unveil the ‘Exchanges’ tab as the latest addition.
This update positions Nansen 2 at the forefront of onchain data analytics for ETH. It provides crypto investors and traders with unmatched insights into ETH transactions, wallet or entity balances, exchange flows, and Smart Money trends.
Nansen Free users can access these two tabs, with certain limitations on table filtering:
Pioneer and Professional users have full access to the 2 tabs above, plus:
Exchanges
Firstly, let’s take a look at the new Exchanges tab.
Here, we have 3 key value cards showing:
- The total ETH held on exchanges and its week-over-week percentage change
- The percentage of total ETH supply on exchanges and its weekly change
- ETH netflow from Smart Money to exchanges over the past 7 days; a negative value indicates more ETH withdrawals than deposits
Top Exchanges
The exchanges holding the most ETH are Coinbase, Binance, Bitfinex, Kraken, Robinhood, OKX, among others. It’s also very easy to sort the table by 7D inflow or outflow.
It's important to note that these balance figures come from the exchange wallets we have identified. If you're affiliated with an exchange and wish to update these figures, please feel free to contact us here.
Of course, you can also filter the table such as by exchange names. Notably, our coverage of Coinbase stands out as potentially the best in the market, particularly for Coinbase Custody and Coinbase Prime.
Exchange Flows
This graph shows a daily analysis of ETH (volume in USD) moving in and out of exchanges. By switching to the 'Depositors/Withdrawals' view, you can see the number of addresses making deposits and withdrawals.
When there's a noticeable increase in the transfer of tokens to exchanges, it often implies that holders might be gearing up to sell, potentially indicating upcoming selling pressure. On the flip side, a significant movement of tokens away from exchanges can suggest a growing confidence among investors in the token's future value. However, these are merely indicators and not definitive predictors of market movements. It's crucial to consider other factors for a well-rounded analysis.
Balances
Unsurprisingly, the top ETH addresses include the Ethereum 2.0 deposit contract (since it only allows one-way deposits), centralized exchanges, staking protocols, and so on. Interestingly, when you toggle by Entity, you'll see Vitalik Buterin in the top 20 as the only person (not a company or protocol) featured on the first page. 😄
Please allow a few seconds for the table to load. This is because we are processing over 200 million Ethereum addresses in real-time whenever you apply filters or sorting.
Filtering the table by labels like 'ETH ICO Participant' is an interesting exercise. This reveals hundreds of wallets that have held onto their ETH since the Genesis allocation without making any outgoing transactions, probably because the private keys were lost. 😞 Notably, there are two addresses each with 20,000 ETH, currently valued at nearly $50M.
Related dashboards
As always, we’d love to hear your thoughts on our new updates, so if you have any feedback or suggestions, feel free to share them with us here or drop us a message on Discord.