BTC: Share of Miner Outflow Sent to Exchanges (30-Day)

Shown as its 2019–2022 sample; the latest readings and full history are included with Plus.

The share of the coins miners sent out over the last 30 days that went straight to the covered exchanges.

Why use it. Coins sent to an exchange are usually there to be sold; a rising share means more of what miners move is headed for the market rather than to their own wallets, pool members or buyers off exchange. How to read it. From 0 (nothing to exchanges) to 1 (everything). Read the level against its own history: exchange coverage and how miners sell (directly, through brokers) change over the years.

Calculation. Miners-to-exchanges value over the 30 UTC days ending with the day ÷ miner outflow over the same days, both in BTC; all 30 days are needed. Computed by CryptoKeyhole from its own Bitcoin node. Miner addresses are every address paid by a coinbase transaction; miner outflow is the value those addresses send to addresses outside that set, as on the Miner Outflow Volume chart, and miners to exchanges the part of it landing directly at the covered exchanges' labelled addresses. A pool paying its members counts as outflow. Days are UTC days by block header time; the open day is partial.