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November 25, 2020

OnChain Reaction

Discussing bitcoin flows into exchanges with Chainalysis

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(38:52) Philip Gradwell, chief economist at Chainalysis, provides a glimpse into the latest blockchain activity over the last week.

(39:07) The bitcoin price drifted down, falling below the $9,000 threshold at one point to hover at $9,150 at last check. The BTC price has been testing the 9k level.
(39:22) Bitcoin inflows to exchanges remain low at 56.6k per day on average, but slightly ahead of last week’s daily average.
(39:37) The BTC flowing into exchanges is staying there. This weakens the price floor.
(39:54) Ethereum could be a different story. ETH balances on exchanges may have dropped in the last week.
(40:36) $1 billion worth of BTC flowed into non-exchange services, up 186% in the last seven days vs. the 30-day average.

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Gerelyn Terzo
Gerelyn caught wind of bitcoin in mid-2017 and after learning about the peer-to-peer nature of Satoshi's creation has never looked back. Previously she covered institutional investing and fintech for several major trade publications. Gerelyn resides in Verona, N.J.

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