ChainsMap on-chain data scan in December: Currency prices accelerated, Huobi stood out with a strong net income of more than 10,000 bitcoins

In the previous article, we have analyzed the overall data situation in December from the perspective of big data on the chain. It can be seen that after the currency price hit 23,000 US dollars, the changes in the data on the chain are mainly reflected in the number of large transfers. on the exchange-linked data. So next, we will try to capture some details of the December chain data of these three exchange giants from the data details of leading exchanges such as Binance, Huobi, and OKEx.

First of all, look at Binance. From the perspective of the entire December, the Binance exchange had an inflow of 455892.42 BTC, an outflow of 459226.17 BTC, and a net inflow of -4851.80 BTC. Compared with the net inflow of 15715.72 BTC in November 2020, it decreased by 130.87%. into a net outflow.

Judging from the comparison of the net inflow of Bitcoin in December 2020 and the currency price of Binance, when the price of Bitcoin hovered at $20,000, investors seemed to be inclined to withdraw coins and expect to rise, but when Bitcoin broke through $20,000, Binance Then it turned into a net inflow, but the net inflow data in December still showed a downward trend compared with November.

As far as December data is concerned, the inflow of Bitcoin on Binance Exchange decreased by 10.11% compared with November, the outflow decreased by 6.56% compared with November, and the net inflow decreased by 130.87% compared with November.

From the comparison of the net inflow and price of Binance in November and December 2020, we can find that during the surge in the price of Bitcoin in the past two months, the Binance exchange showed a relatively stable overall trend. In the state of net inflow, the main period of net outflow still occurs in the first half of December.

Let’s take a look at another big exchange, Huobi. In December 2020, Huobi’s inflow was 171,222.38 BTC, a decrease of 4.00% from the previous month; at the same time, the outflow was 159,040.71 BTC, a decrease of 31.57% from the previous month; the monthly net inflow 12181.66 BTC, up 122.58% from last month. On the whole, Huobi’s net inflow data has changed a lot from December, changing from a net outflow last month to a strong net inflow.

Judging from the comparison of Huobi Bitcoin net inflows and prices in November and December 2020, Huobi had a large net outflow at the beginning of November due to some special public opinion rumors. However, as the relevant rumors faded, Huobi’s net inflow began to pick up, and it showed a trend of bitcoin backflow throughout December, tracking the monthly net inflow of more than 10,000 bitcoins, doubling compared to the previous month.

Finally, take a look at OKEx. Due to the loss of contact with the person in charge of the private key, the exchange suspended withdrawals and reopened withdrawals on November 26, 2020. On the day of withdrawals, there was a relatively violent outflow of bitcoins. However, in December, the overall business of OKEx has gradually returned to normal. The inflow of 62,968.17 BTC and the outflow of 66,072.02 BTC throughout December. Although the net outflow of 3,103.85 BTC was still in that month, the negative impact of the previous incident has obviously been curbed.

Next, let's take a look at the composition of the proportion of inflows into Binance, Huobi, and OKEx exchanges in December. After our analysis, we list the data of the top 20 exchanges that can be identified.

Overall, the Bitcoins flowing into Binance mainly come from Huobi, Bitfinex, and Coinbase.

The Bitcoin inflow to Huobi mainly comes from Binance, Coinbase, and Bitflyer.

The top three sources of Bitcoin inflow to OKEx are: Binance, Huobi, and Bitfinex.

Through the pie chart, we can more intuitively understand the main sources of Bitcoin in the three major exchanges in December

From the composition point of view, the exchanges that flow into Binance are more diverse. In December, both Huobi and OKEx have a large proportion of Bitcoins from Binance. Among the exchanges that flowed into Huobi, Bitcoin Binance even accounted for nearly 50% of the share.

Next, we further showed the outflow direction of HBO's three major Bitcoins.

Among the main destinations of Bitcoin outflows from Binance, coinbase, Bitmex, and Huobi rank in the top three, and their Bitcoins still mainly flow out to overseas exchanges.

Binance, coinbase, and Bitflyer are the top three destinations for Huobi’s outflow of Bitcoin.

Coinbase, Huobi, and Binance are the top three destinations for bitcoin outflows from Okex.

Through the pie chart, we can more intuitively understand the main destinations of Bitcoin outflows from exchanges in December.

On the whole, from the data point of view, as the price of Bitcoin rose in December, it was close to 30,000 US dollars and fluctuated. Except for OKEx, which resumed business at the end of November, it is difficult to compare. There is a certain decline. Both Binance and OKEx continue to bear the pressure of bitcoin outflows, but OKEx is clearly in a recovery upward state, while Huobi’s performance is more prominent, and the strong net inflow also declares that it has stepped out of the previous turmoil.

At the end of December, the price of Bitcoin continues to rise. While investors are excited, the trend of Bitcoin entering 2021 at a high level will also be full of more variables, which will bring investors and exchanges in the deep industry. What kind of gains and losses? Let us continue to pay attention to the ups and downs of the industry revealed by the data on the chain in 2021.

Disclaimer: The above data is obtained by the Beijing ChainsMap system based on the analysis of public information on the Bitcoin network chain. It is only for data research and analysis, and does not guarantee absolute accuracy. We welcome all parties in the industry to testify and discuss and exchange together.