Across the exchanges Binance, Coinbase Advanced, KuCoin, and OKX, Binance dominated transaction volumes in 2024, cementing its position as the liquidity leader. Throughout bullish and bearish periods, Binance showcased consistently higher inflow and outflow activity. These patterns indicate active user engagement, with traders capitalizing on both price surges and corrections.
In contrast, Coinbase Advanced experienced fewer inflows but significant outflows, particularly during price rallies. This behavior suggests a strong appetite for long-term holding, driven by institutional investors or large players ("whales"). Given the current bull run, monitoring Coinbase for whale activity will provide valuable insights into institutional sentiment.
Meanwhile, OKX displayed a speculative user base, with its net flows reacting sharply to market volatility. Large inflows during price rallies and sudden outflows during corrections reflect active traders seizing short-term opportunities.
On the other hand, KuCoin remained relatively inactive in Bitcoin flows throughout 2024. The minimal net flows suggest users on KuCoin favored alternative coins over Bitcoin. This supports the hypothesis that KuCoin’s activity has little to no impulse influence on Bitcoin’s price movements.
Written by ShivenMoodley
