Transfer to/from Exchange Addresses (Netflow) - All
Transfer to/from Exchange Addresses (Netflow) – All measures the net amount of ICP moving into or out of all known exchange addresses, calculated as total inflows minus total outflows over a given period. This metric aggregates transactions using our continuously updated labeled dataset, with addresses identified through publicly available sources, official exchange disclosures, and internal research.
How it’s calculated
Netflow = Total Inflows − Total Outflows
Each transaction to or from a labeled exchange address is accounted for in the netflow calculation.
- Addresses are continuously verified and labeled, and values are updated as new information becomes available.
- Netflow values may fluctuate over time, particularly for recent periods, due to delayed labeling or newly discovered addresses.
What this metric highlights
- Positive Netflow indicates more ICP entering exchanges than leaving, which may suggest increased deposit activity, potential selling pressure, or higher exchange liquidity.
- Stable Netflow implies inflows and outflows are roughly balanced, reflecting neutral exchange activity.
- Negative Netflow reflects more ICP leaving exchanges than entering, potentially indicating off-exchange accumulation, long-term holding, or reduced market supply.
Limitations
- Partial coverage: Not all exchange addresses are publicly disclosed; some flows may be untracked.
- Dynamic and variable: Token movements occur frequently, so netflow values are snapshots that may change as new addresses or transactions are labeled.
- Does not indicate intent: Transfers may reflect trading, staking, custody management, or other operational activities.
- Informational purposes only: This metric is a proxy for net exchange activity, not a definitive measurement of market behavior or liquidity.
Disclaimer: The information provided in the descriptions above is for informational and educational purposes only and is intended as a general overview of the referenced metrics. These descriptions are illustrative, descriptive, and non-exhaustive; additional interpretations, use cases, and limitations may exist that are not covered here. Nothing herein should be construed as financial, investment, legal, tax, or professional advice, nor should it be relied upon as the sole basis for any decision-making process. All users should conduct their own independent research, validate data through multiple sources, and consult with qualified professionals where appropriate. The content provided does not guarantee accuracy, completeness, or reliability, and no representation or warranty is made regarding its correctness. The metrics, interpretations, and examples mentioned are subject to change over time and may not reflect all possible scenarios or market conditions. By using this information, you acknowledge that you do so at your own discretion and responsibility. No advisory, fiduciary, or client relationship is created through the use or reading of this material.