How is the HIVE balance on the exchanges doing? The amount of HIVE on exchanges is of extreme importance for the ecosystem as this is where the liquidity for the token is, that provides the base for the price discovery.
Lets take a look!
Here we will be looking at the following:
- Daily deposits to exchanges
- Top accounts that deposited to exchanges
- Daily withdrawals from exchanges
- Top accounts that withdraw from exchanges
- Net deposits VS withdrawals
- HIVE balance on exchanges
Exchanges taken in the analysis: Binance, Huobi, Bittrex, Upbit, Probit, Ionomy, MXC, Bithumb, Gate.io and Indodax. There are few more exchanges but the volume there is quite low.
For the first time in this type of reports I’m including Hive Engine as well, since that one has grown and is now the no.5 exchange by holdings.
The period that we will be looking at is Jan 2022 up to today Sep 2022.
Daily Transfers/Deposits To Exchanges
Here is the chart for the daily transfers/deposits to exchanges.
Note: Transfers between exchanges accounts are excluded from the data above.
We can notice some spikes in the data above but it seems that the peak has been in August 2022. In that month there was more than 2M HIVE deposited daily on exchanges. This is mostly connected with the spikes in the HBD price.
On an average day the daily deposits to echanges are between 200k to 400k.
Note that these are not NET deposits. To get this we need withdrawals and we will look at those bellow.
Top Accounts That Deposited To Exchanges
Who has transferred the most funds to exchanges? Here is the chart for the last month.
The @hivekorea account is on the top with 2M HIVE deposited, followed by @token-converter and @raws.
The first account might be some official account from some of the Korean exchanges but not sure. The token-converter account is a Splinterlands account that is mostly using Hive Engine.
Daily Withdrawals From Exchanges
What about withdrawals from exchanges? How much has been withdrawn and by who?
Here is the chart for the daily withdrawals to exchanges.
As for the above, here as well the transfers between exchanges accounts are excluded.
The spikes in the volume are around the same time as for the deposits. One in January and then again in August. Again, most likely connected with the spikes in HBD.
On a regular day the amount for withdrawals is around 200k HIVE daily.
Top Accounts That Withdrawn From Exchanges
Who has withdrawn the most funds from exchanges? Here is the chart for the last 30 days.
The @hivekorea account is on the top with 1.8M. Next is @jupiter70 and then @token-converter. The top account was the same as for deposits, so it seem a lot of circulating tokens here.
Monthly Net Deposits VS Withdrawals
When we sum it up the above, we get the net deposits vs withdrawals.
For better visibility we are presenting the monthly data.
As for the other chart here as well transfers between exchanges account are excluded.
Positive bar means more funds are deposited to exchanges in that month, negative bar is more funds withdrawn from exchanges.
January and August have been negative in terms of deposits on exchanges. As mentioned this is mostly impacted by the movement in the HBD price. March is on the top with almost 3M HIVE net deposited in the month.
For the whole 2022, there is around 9M more HIVE deposited on exchanges.
HIVE Balance On Exchanges
What is the amount of HIVE on exchanges?
Here is the chart.
At the moment there is more than 130M HIVE on exchanges. Out of the total supply of 387M, this is a 34% share. For reference BTC and ETH supply on exchanges has been in the range of 10% to 15%.
When the Hive blockchain was created In April 2020 there was around 106M HIVE on exchanges. We are now at 132M. The Korean Upbit is the number one exchange for HIVE with 88M HIVE. It’s the single largest holder of liquid HIVE. Also the biggest risk for a single point of failure for HIVE.
@theycallmedan has recently mentioned that liquidity remains the biggest risk for HIVE and that we need to get HIVE on more DEXs. Totally agreed with this.
One thing that keeps staying in the backdoor for HIVE is a multisig bridging account. A way to have a decentralized bridge to other chains. There were talks that it is possible and someone will do it, but till this day, nobody delivered on this. Hope some of the DHF workers take on this. The Leofinance team is great at what are they doing in a centralized manner. They are already bridging HIVE to BSC and Polygon, but obviously this comes with trust in the token issuer account.
If we have a decentralized bridge for HIVE to DEXs on Ethereum, BSC, Polygon, etc, then we can incentivize liquidity pools with HDB from the DHF and we can solve the biggest risk for HIVE atm.
All the best
@dalz
Posted Using LeoFinance Beta
~~~ embed:1570422970572754950 twitter metadata:dGFza21hc3RlcjQ0NTB8fGh0dHBzOi8vdHdpdHRlci5jb20vdGFza21hc3RlcjQ0NTAvc3RhdHVzLzE1NzA0MjI5NzA1NzI3NTQ5NTB8 ~~~
~~~ embed:1570658839917371392 twitter metadata:Y3RycGNofHxodHRwczovL3R3aXR0ZXIuY29tL2N0cnBjaC9zdGF0dXMvMTU3MDY1ODgzOTkxNzM3MTM5Mnw= ~~~
The rewards earned on this comment will go directly to the people( @dalz, @taskmaster4450le, @shiftrox, @ctrpch ) sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.
Hey, good to see your report. I am working on a stats platform with the PeakD team and we have a list of exchange accounts we're tracking:
'bittrex','deepcrypto8','binance-hot','ionomy','huobi-pro','huobi-withdrawal','blocktrades','mxchive','gateiodeposit','hot.dunamu','user.dunamu','probithive','probitred','upbitsteem','orinoco','bithumb.hot','upbit-exchange','bitfinex','rudex','coinpayments.net','poloniex','openledger','openledger-dex','gsr-io','upbitsteemhot','honey-swap','leodex','hiveswap'Hope this helps you in case you were missing some of them.
Would you be willing to share your list of exchange accounts so we can make sure we are tracking all identified exchanges?
Hey, nice list :)
From a first look it seems ok, just not sure about bithumb, they have a bit weird accounts and transactions between exchanges only
Have you got any further reading or discussion around this?
Seems like it really should be a priority for our elected witnesses?
Posted Using LeoFinance Beta
Why is it a risk that Upbit has the most liquidity???
I don't think that the risk is connected to Upbit itself. The risk is the fact that a single exchange dominates the huge majority of the liquidity; if it borks somehow (close down, bankrupcy, system failure, etc.), the whole system is in danger.
Prety much ... another one is get hacked, or maybe decides to delist hive
Yeah, there's a lot of bad stuff that can happen with a single entity.
Oooooh got it, thanks 😉
Seriously good read right here. It's good to have a resource like this so I am informed of what is happening with Hive.
Thank you.
those dam Koreans :)
Thanks for sharing @dalz
Congratulations @dalz! You have completed the following achievement on the Hive blockchain and have been rewarded with new badge(s):
Your next payout target is 37000 HP.
The unit is Hive Power equivalent because post and comment rewards can be split into HP and HBD
You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOPCheck out the last post from @hivebuzz:
BUY AND STAKE THE PGM TO SEND A LOT OF TOKENS!
The tokens that the command sends are: 0.1 PGM-0.1 LVL-0.1 THGAMING-0.05 DEC-15 SBT-1 STARBITS-[0.00000001 BTC (SWAP.BTC) only if you have 2500 PGM in stake or more ]
5000 PGM IN STAKE = 2x rewards!
Discord
Support the curation account @ pgm-curator with a delegation 10 HP - 50 HP - 100 HP - 500 HP - 1000 HP
Get potential votes from @ pgm-curator by paying in PGM, here is a guide
I'm a bot, if you want a hand ask @ zottone444
lolztoken.com
He was a terrible conductor.
Credit: reddit
@dalz, I sent you an $LOLZ on behalf of @uveee
Are You Ready for some $FUN? Learn about LOLZ's new FUN tribe!
(1/1)