Centralized Exchanges See Significant Crypto Withdrawals, Coinglass Data Shows

Centralized Exchanges See Significant Crypto Withdrawals, Coinglass Data Shows

Coinglass data on January 19 reveals major outflows for ETH and BTC from centralized exchanges, with OKX and Kraken leading withdrawals across different cryptocurrencies.

BTC
ETH
GT

Fact Check
The evidence strongly and consistently supports the statement. The primary sources, which are pages directly from the Coinglass website, provide definitive proof. The page for Memecoin (MEME) explicitly features a 'Spot Flows' table with a column for 'Outflow,' which is a direct measure of withdrawals from exchanges. Similarly, the pages for Arkham (ARKM) and Sei (SEI) show 'Net Inflow' data, where a negative value indicates that withdrawals have exceeded deposits, representing a net withdrawal from exchanges.This direct evidence is further corroborated by multiple secondary sources. Reports from Lookonchain and Bingx explicitly cite Coinglass as the source for their data on Bitcoin's net outflows from centralized exchanges (CEXs). This demonstrates that Coinglass is a recognized authority for this specific type of data.While some provided sources discuss Exchange-Traded Fund (ETF) flows or future liquidations, they do not contradict the core statement. They simply cover different metrics that Coinglass also tracks. The most relevant sources directly and unambiguously confirm that Coinglass provides data on cryptocurrency withdrawals from centralized exchanges. There is no conflicting evidence presented.
Summary

On January 19, Coinglass reported that centralized exchanges saw substantial withdrawals over 24 hours. ETH net outflows totaled 44,000, with OKX leading at 21,900 ETH, followed by Binance at 17,800 ETH and Gate at 3,870 ETH. Kraken recorded the largest ETH inflow of 2,086. In BTC movements, net outflows reached 1,729.96 BTC, led by Kraken with 2,394.43 BTC withdrawn, followed by Bybit at 395.37 BTC and Bitfinex at 62.33 BTC. Binance posted the highest BTC inflow at 793.77 BTC.

Terms & Concepts
  • Centralized Exchange (CEX): A cryptocurrency trading platform operated by a centralized entity, handling user funds and transactions.
  • Net Outflow: The total amount of cryptocurrency withdrawn from an exchange minus the amount deposited during a specific period.
  • ETH: The ticker symbol for Ether, the native cryptocurrency of the Ethereum blockchain.