March scan of data on the bitcoin chain: the month of the plunge and shuffle, all three HBO trends are revealed

In the previous article, we have analyzed the overall data situation in March from the perspective of big data on the chain. In the next content, we will get the details of the head exchange data such as Binance, Huobi, Okex , To reproduce the data trends of the three exchange giants in March, yes, in this report we joined the Okex exchange .

From the whole of March, from March 1 to March 31, Binance Exchange inflows 403454.86BTC, outflow 414745.88BTC, and net inflow -11291.02BTC, compared with the net inflow of 13458.55BTC in February 2020. The sharp decline then turned into a net outflow. From the comparison of other exchange data, this is also the overall trend of the head exchange.

From the perspective of 31 natural days in March 2020, when the price of Bitcoin fluctuated sharply, Binance ’s net inflow of Bitcoin also showed greater fluctuations. During the price collapse, there was a sharp outflow of Bitcoin, but the price During the bottoming out period, more bitcoins flowed into the exchange. Since then, the price of the currency has stabilized and a large number of bitcoins have flowed out. We cannot rule out the fact that there is a panic selling on the side and a bargain sweeping of the bottom, which is called "washing". brand".

In terms of March data, Binance Exchange ’s inflow of 403454.86BTC increased by 74.06% from February and outflow of 414745.88BTC, up by 89.97% from February. Net inflow -11291.02BTC decreased by 183.89% from February. Obviously, the relevant data has increased significantly The key time period is still between March 12th and March 20th.

From the comparison between the two months of February and March 2020, the net inflow of Binance and the price, in the decline in the price of the currency at the end of February, due to the relatively slow rhythm, it triggered a continuous net inflow of Bitcoin, but the price of the currency was sharp In the volatile March, the rhythm of investors will be chaotic.

Let's look at another big Huobi. In March 2020, the Huobi Exchange inflowed 310906.13BTC, an increase of 62.99% over the previous month; at the same time, it outflowed 345789.77BTC, an increase of 58.99% over the previous month; monthly net inflows -34883.64BTC, down 30.50% from last month.

Specifically comparing the daily inflow and outflow trend of Huobi in February and March, the data gradually increased from March 12 to March 20 year-on-year.

From the comparison of Huobi Bitcoin's net inflow and price in February and March 2020, Huobi's Bitcoin has been in a state of net outflow in the past two months, especially on March 12th. This is especially true for a period of time after the fall. In this regard, we can not rule out the impact of the OTC transaction, which accounts for a large proportion of the Huobi exchange market, that is, it is likely that the bitcoin in its field will be proposed to other addresses after the OTC transaction.

Okex inflowed in March 2020 to 217032.54BTC, an increase of 65.01% over the previous month; at the same time outflow of 238167.28BTC, an increase of 74.73% over the previous month; monthly net inflow of -21134.74BTC, a decrease of 342.56% over the previous month.

Specifically comparing the daily inflows and outflows of Okex in February and March, the data in the most turbulent phase of March 13 can be comparable to Binance and Huobi, but the decline is also more than that of the other two exchanges. fast.

Judging from the comparison between Okex net inflows and prices in February and March 2020, the overall net outflow status, especially after the 3.12 plunge, has more outflows.

Next, let us see, in March, which exchanges did BTC proposed by Binance, Huobi and Okex exchanges mainly flow to? After our analysis, the data of the top 20 exchanges that can be identified are listed.

Overall, the main destination of bitcoin outflow from Binance is Bitmex, coinbase and Huobi. In fact, after the 3.12 plunge, as an important player in the global bitcoin contract transaction, Bitmex has also become the market focus, and there was a downtime. event. The main destinations of Bitcoins flowing out of Huobi are Binance, Okex, and Bitmex. The interesting thing is that the number of Bitcoins flowing from Huobi to Binance is the same as the number of Bitcoins flowing from Binance to Huobi. User interactions are relatively frequent. The main destination of bitcoin flowing out of Okex is Huobi, Binance, and coinbase. From the perspective of bitcoin exchanges between Huobi and Okex, the users of the two major exchanges are also highly connected.

Through the pie chart, we can more intuitively understand the main direction of exchange outflow of Bitcoin during March.

March is a troublesome autumn, the global epidemic has entered an outbreak period, and the international financial market has experienced ups and downs. In this context, bitcoin prices are also associated with a huge earthquake. From this perspective, the March 12th plunge is not an individual phenomenon in the field of digital assets. Although the relevance of bitcoin prices to other assets has yet to be confirmed, it is by no means possible to go out of the "independent market". Perhaps, from more In the real chain data, we can try to publish more truth.

Next, please look forward to the last part of the March data report, which is the ERC20 USDT that was issued in March. Where did all the “dollars” go?

Disclaimer: The above data is analyzed by the Beijing Chainan ChainMap system based on the 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 together.