Compare Derivative and Spot on Exchange Depositing Stablecoins.
Please read my article.
(https://cryptoquant.com/insights/quicktake/676cb4d7f63b24124f464cea-Discover-Coinbases-true-spirit)
Spot, which is now primarily Coinbase, is We can see that they are sellers.
Derivative, starting with Binance, absorbed the sellers at a low price and reversed the price.
Written by Crypto_Lion