Cryptocurrency exchanges saw a sharp increase in average deposits during 2024, driven by large purchases by institutional investors and companies. According to an analysis released on December 3 by CryptoQuant, the average daily deposit of Bitcoin ($94,378.00 BTC) increased by 2.77 BTC over the year, outperforming its competitors Kraken and Coinbase, which saw increases of 0.56 and 0.41 BTC, respectively. The data shows that average daily deposits of Bitcoin across the exchanges increased from 0.36 BTC in 2023 to 1.65 BTC in 2024. Deposits of Tether ($1.00 USDT A) also increased from $19,600 to $230,000, reflecting increased inflows from institutional investors and market makers to the exchanges.