Avalanche Centralized Exchange(CEX) Flows
Methodology:
To perform this dashboard I have used the Avalanche scheme from Flipside.
avalanche.core.dim_labels
was used to extract users CEX addresses.
Addresses represented in this table are divided into two following types:
- Hot Wallet is used for storing digital assets that are actively traded on the platform.
- Deposit Wallet is used to receive cryptocurrency from external sources. When you deposit cryptocurrency it is first transferred to a deposit wallet. Once the deposit is confirmed, the funds are then transferred to your hot wallet for trading.
For that reason I have filtered the addresses with label_type
equal to deposit_wallet
avalanche.core.ez_token_transfers
- was used to track the token transfers transactions in both directions (from CEX and to CEX).
During the analysis I have looked at metrics related to Flows including volume of assets, number of transactions and unique users, average and median transfer size as well as some metrics related to user activity such as transfered volume categories, distribution of users by CEX. Also explored top 10 tokens by total inflow and outflow volume.
Introduction:
Avalanche Network is used for a variety of purposes, including decentralized finance applications, cross-chain asset transfers, and other blockchain use cases. Avalanche offers a bunch of benefits such as high scalability, fast transaction speeds, robust security, and developer-friendly features that makes it a strong contender in the blockchain space.
Centralized exchange (CEX) is a platform that facilitate the trading of cryptocurrencies for assets including crypto and fiat currencies. As such, CEX acts as intermediaries between buyers and sellers. Since these exchanges are managed and maintained by a central organization, investors essentially put their trust in them to safely complete their transactions and to even safely hodl their precious crypto assets. Learn more about CEX
In this dashboard I'll dive into crypto asset flows between Avalanche ecosystem and CEXes for last year in monthly dynamics.
I've considered the following technical terms as:
- CEX outflow - users sending their assets from the CEX to external source
- CEX inflow - users sending their assets from external sources to the CEX
- Net volume = ( CEX inflow - CEX outflow )